Transamerica Life (Bermuda) Ltd. (TLB) announced today that after nearly five years of successful leadership, Marc Lieberman, TLB’s CEO & President, will retire at the end of the year.
Under his stewardship, Mr. Lieberman has strengthened the company's brand and today TLB is recognised as a leading provider of High Net Worth (HNW) life insurance solutions to customers in Asia and beyond - winning industry awards every year for the last four years. He also spearheaded the strategic direction and diversification of TLB's product suite, from the successful launch of TLB's innovative Wealthassure product to the significant enhancements of its flagship product, Universal Life Alpha. His foresight and determination has driven TLB's digitalisation, operations, and services improvement, which has resulted in more capability building for the company.
TLB also announced that the company's top leadership role will be separated into two jointly accountable and strategically aligned positions. Pending regulatory approval, Chirag Rathod, TLB's current Chief Financial Officer, will take on the role of CEO, and Hazel Etherington, TLB's current Chief Operations Officer, will assume the role of President effective 1 January 2021. Together they will form the Executive Committee of TLB, which will be chaired by the CEO.
The CEO leadership transition represents a significant milestone for TLB as it continues to pursue its aspirations to become the leading Asia-based HNW life insurance provider. Mr. Lieberman will remain to support the CEO transition until 31 December 2020.
Aegon, headquartered in The Hague, the Netherlands and parent of TLB, commented through Damiaan Jacobovits de Szeged, Chief Operating Officer, Aegon International, "We would like to pay special thanks to Marc for his exceptional leadership and many contributions towards growing TLB's business over the years. We wish him all the best in his plans for retirement."
"We are delighted to appoint Chirag and Hazel to take over the top leadership positions at the company. Together we believe they are ideally positioned to steer TLB through the challenging market conditions and lead TLB into its next phase of long-term growth. Both are seasoned, skilled executives and together they bring nearly 50 years of industry experience to the table. They are well respected within the company and among industry peers. We are confident they will be successful in driving and creating long-term customer and shareholder value," he added.
TLB is a leading life insurance company dedicated to serving HNW and Ultra High Net Worth (UHNW) individuals. As the only pure HNW life insurance provider in Hong Kong, TLB has extensive experience in handling large sums assured and complex cases to support legacy and business planning for its customers.