Michael Farley is Named Chief Financial Officer of U.S. Business for Transamerica Reinsurance

CHARLOTTE, N.C.--(BUSINESS WIRE)--Transamerica Reinsurance, a division of Transamerica Life Insurance Company and a major worldwide supplier of life reinsurance, announced today that Michael Farley has been named senior vice president and chief financial officer of U.S. business. Farley will report to CFO Joe Gilmour and will play a key role on Transamerica Reinsurance’s senior management team.

“His life reinsurance background plus his experience in retail markets is valuable to our organization. I am confident that Mike’s knowledge and expertise will be a tremendous asset as we continue to drive profit and growth opportunities in the U.S. life reinsurance market.”

“We are very pleased to have Mike on board,” Gilmour said. “His life reinsurance background plus his experience in retail markets is valuable to our organization. I am confident that Mike’s knowledge and expertise will be a tremendous asset as we continue to drive profit and growth opportunities in the U.S. life reinsurance market.”

In his new role, Mike is responsible for the control environment for financial processes that pertain to the U.S. business. He will provide financial perspective and analysis in the development and execution of strategy and key initiatives designed to improve performance and enhance the capabilities of Transamerica Reinsurance.

Mike has more than 20 years of experience in life insurance and reinsurance, including senior finance positions at Allianz, Life USA, ING Re and, most recently, Conseco.

Mike obtained his FSA designation from the Society of Actuaries in 1994 as well as the CERA (Certified Enterprise Risk Analyst) designation earlier this year. He has a Bachelor of Science degree in Chemistry from St. John’s University in Minnesota and has been a long time member of the American Academy of Actuaries.

About Transamerica Reinsurance

Transamerica Reinsurance is a division of Transamerica Life Insurance Company, an AEGON company. It is one of the largest life reinsurers in the U.S. based on recurring new business and inforce volume, according to the 2008 Munich Re Survey of U.S. Life Reinsurance conducted for the Society of Actuaries. It offers broad capabilities in risk, capital and expense management to help companies improve the competitiveness and profitability of their life and annuity products. Transamerica Reinsurance supplies automatic and facultative reinsurance, product consulting and development and alternative underwriting solutions to more than 500 companies in North America, Asia-Pacific, Latin America and Europe. Its main marketing office is located in Charlotte, North Carolina.