TransAmerica announces it will relocate subsidiary out of L.A.TransAmerica announces it will relocate subsidiary out of L.A. TransAmerica Occidental Life Insurance Co. last week announced it will move its 100-employee Transamerica 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. Co. subsidiary out of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. next year. Company officials said the move will be made to situate sit·u·ate tr.v. sit·u·at·ed, sit·u·at·ing, sit·u·ates 1. To place in a certain spot or position; locate. 2. To place under particular circumstances or in a given condition. adj. the unit nearer to its East Coast customers, with the new headquarters site likely to be located in the Midwest or Southeast. The move will also provide more space for the State Bar of California, which this week signed a 20-year lease valued at $62 million to occupy 150,000 square feet at the Transamerica Center in downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or . As soon as Transamerica officials decide where the operation is to be located, all employees will be asked to relocate, said Transamerica spokeswoman Carol Bromberg. |
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