Alfonso Lombao Joins Transamerica Reinsurance Latin America.
Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , a division of Transamerica Life Insurance Company and a major worldwide supplier of life reinsurance, announced today that Mr. Lombao has joined the organization as Managing Director for Latin American Business. Lombao will coordinate sales, marketing and business development strategies for the region, including traditional reinsurance solutions and customized product programs.
Mr. Lombao has extensive expertise in both the direct side and reinsurance side of the life insurance business. His retail insurance experience includes four years in bancassurance Bancassurance
A French term referring to the selling of insurance through a bank's established distribution channels.
The result is a bank that can offer banking, insurance, lending, and investment products to a customer. , an increasingly important distribution channel in emerging markets. Later, during his 14 years with Swiss Re, Mr. Lombao served in multiple roles including the management of the company's Latin American business, not only out of the Zurich headquarters but Swiss Re's Mexico City office as well.
"The Latin America markets are vital to our long term growth," said Michael Colannino, Executive Vice-President of International. "Mr. Lombao's experience in reinsurance solutions and his understanding of the region's markets, combined with his commitment to creating value for clients, will well position our business in Brazil, Chile and Mexico."
"Latin America came through the recession in relatively good shape; growth prospects are strong in these markets," Mr. Lombao said. "With its foundation of close working relationships in the region, Transamerica Reinsurance is well situated to help local life insurers in the development and execution of their product and marketing strategies."
Mr. Lombao graduated in 1992 with a master's degree in Physics Science from the Swiss Federal Institute of Technology The Swiss Federal Institute of Technology may refer to one of two institutes of higher education in Switzerland:
A photo of Mr. Lombao is available upon request.
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 most recent Munich Re Survey of U.S. Life Reinsurance conducted for the Society of Actuaries Mission Statement
The Society of Actuaries is a professional organization for actuaries based in North America. Its headquarters are located in Schaumburg, Illinois. . It offers broad capabilities in risk, capital and expense managements 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 “Charlotte” redirects here. For other uses, see Charlotte (disambiguation).
Charlotte is the largest city in the state of North Carolina and the 20th largest city in the United States. .