Transamerica has entered into an agreement to transfer the service and administration of its insurance and annuity products to an independent third party administrator in the U.S., Tata Consultancy Services (TCS). The transaction is expected to be completed in second quarter 2018. TCS will provide administration for Transamerica’s life insurance, annuity, supplemental health insurance and workplace voluntary benefits customers.
All of the Transamerica employees who support this business will receive employment offers from TCS and may remain in the U.S. cities where they are currently based. Customers can expect dedicated service and do not need to take any action regarding these changes.
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