Marc Lieberman, President & CEO of Transamerica Life (Bermuda) Ltd. (TLB) highlights the company's commitment to stand together with our customers and reiterates TLB's pledge to apply our global financial strength to meet your needs.
The Covid-19 outbreak is creating major cultural and economic impacts that no one could have imagined. Governments are reacting in ever more dramatic ways, closing borders, imposing lockdowns and travel restrictions, shutting schools and colleges, and banning mass gatherings such as sporting events.
In addition, we have seen the amazing sacrifices and courage shown by health care professionals around the world. We salute these brave and caring individuals and offer our heartfelt thanks for their tireless efforts in fighting to contain and treat those affected by the virus.
A crisis such as Covid-19 affects all business sectors - including the life insurance industry. And the way the crisis will run from here cannot be known. Despite this however, one thing remains constant – TLB remains a strong partner to our customers and business partners and we continue to be open for business.
At TLB, we maintain a strong, solid financial foundation. TLB has an A+ rating from S&P (as of February 2020) and we have over USD9.6 billion in total assets (as of 31 December 2019). We remain 100% committed to keeping our promises to our customers - in 2019 alone, we have paid over USD65 million in claims.
Faced with the fast-evolving COVID-19 pandemic, we want to assure you that TLB's main priority remains protecting the health and safety of our customers, colleagues, and all those around us while continuing to provide the highest level of service to our customers, policyholders, business partners and other stakeholders.
We thank you for your continued support of TLB. We remain, as always, at your service.
President & CEO