Michael Farley is Named Chief Financial Officer of U.S. Business for Transamerica Reinsurance.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 Michael Farley has been named senior vice president and chief financial officer of U.S. business. Farley will report to CFO See Chief Financial Officer. Joe Gilmour and will play a key role on Transamerica Reinsurance's senior management team.
"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 FSA Financial Services Authority
FSA Food Standards Agency (UK)
FSA Farm Service Agency (USDA)
FSA Financial Services Agency (Japan) designation from 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. in 1994 as well as the CERA (Certified Enterprise Risk Analyst) designation earlier this year. He has a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science
bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in Chemistry from St. John's University in Minnesota and has been a long time member of the American Academy of Actuaries The The American Academy of Actuaries, also known as the “Academy” or the AAA, is the body that represents and unites United States actuaries in all practice areas. .
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 “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. .