Transamerica Life Bermuda Reaffirms Its Growth Ambition with Key Senior Appointments

HONG KONG,Jan. 8,2021 --Transamerica Life (Bermuda) Ltd. (TLB) announced today that Mr. Jeremy Young has joined the company as its global Head of Sales & Distribution,and that Mr. Benjamin Chua,Head of Finance for its Singapore Branch Office,has received regulatory approval from the Monetary Authority of Singapore (MAS) to assume the additional role of Chief Executive for TLB in Singapore.

As Head of Sales & Distribution,Mr. Young will be responsible for enhancing and executing the company's sales strategy,while building its distribution capability and leading the distribution teams to drive profitable sales and accelerate business growth across Hong Kong,Singapore and Bermuda. In addition,Mr. Young will cultivate and further key relationships with brokers,private banks and other financial firms to expand TLB's distribution relationships and footprint across the globe. He will report to TLB's President,Ms. Hazel Etherington.

"We're delighted to have Jeremy join the TLB family. Jeremy's appointment to this critical position is further testimony of our commitment towards growth as a leading High Net Worth (HNW) life insurance provider of choice for business partners and customers in our key markets. Jeremy will build upon TLB's strong business partner servicing capabilities and work closely with our distribution partners,helping them to better serve HNW customers who are looking to achieve financial security and protection during these uncertain times," said Hazel Etherington.

Mr. Young previously worked at Sun Life Financial where over an eleven-year period,he served in various senior management roles,most recently working as its Chief Marketing Officer for Asia. He has over 25 years of experience in the life insurance industry with extensive experience in the areas of distribution having first joined the industry as a broker and having led development of broker and bancassurance distribution channels in his prior roles at Sun Life Hong Kong,AIA NZ,and Sovereign Assurance.

Mr. Chua,in his recently appointed role as Chief Executive,will oversee the execution of TLB's corporate strategy to drive growth for its business in Singapore. In addition to this appointment,Mr. Chua,who has been with TLB since 2014,will continue in his role as Head of Finance where he remains responsible for the overall capital management and financial reporting and management activities of the Singapore business. He will report directly to TLB's Chief Executive Officer,Mr. Chirag Rathod.

"I'm very pleased to appoint Benjamin Chua as Chief Executive for our Singapore business," said Chirag Rathod. "Singapore is an extremely important market for TLB and Benjamin is a strong leader within the organisation and is widely respected by his peers. He has a deep knowledge of the market and our business operations in Singapore. His solid track record of delivery will prove invaluable in leading and driving sustainable business growth in the country," he added.

TLB is a leading life insurance company dedicated to serving HNW and Ultra High Net Worth (UHNW) individuals. As a life insurance provider solely focused on the HNW market,TLB has extensive experience in handling large sums assured and complex cases to support legacy and business planning for its customers.

About Transamerica Life (Bermuda) Ltd.: Transamerica Life (Bermuda) Ltd. (TLB) is a leading High Net Worth life insurance provider,dedicated to offering life protection to High Net Worth individuals,families and businesses across Asia and beyond. Transamerica has been in Asia for over 80 years and has been the pioneer in managing universal life portfolios since 1981. TLB was awarded International Life Insurer of the Year Award (Hong Kong) at the Asian Banking & Finance InsuranceAsia Awards 2019. TLB is part of the Aegon Group,a leading,international financial services group providing life insurance,pensions and asset management based in The Hague,Netherlands. Further information about TLB is available here: www.transamericalifebermuda.com

About Aegon: Aegon's roots go back 175 years –to the first half of the nineteenth century. Since then,Aegon has grown into an international company,with businesses in more than 20 countries in the Americas,Europe and Asia. Today,Aegon is one of the world's leading financial services organisations,providing life insurance,pensions and asset management. Aegon's purpose is to help people achieve a lifetime of financial security. Further information about Aegon is available here: www.aegon.com.