The upgraded indexed universal life plan aims to empower HNW customers in building and enhancing multi-generational wealth with a wider choice of index account options, extended protection and new benefits

SINGAPORE - Media OutReach Newswire - 19 February 2024 - Transamerica Life (Bermuda) Ltd. (TLB), a leading high net worth (HNW) life insurance provider, today announced the launch of its upgraded indexed universal life (IUL) insurance plan - Genesis II Indexed Universal Life (Genesis II). The upgraded IUL plan is designed to better empower high net worth individuals (HNWIs) to maximize and safeguard their wealth with a suite of new features such as a wider choice of index account options, extended coverage to infants and juveniles, and enhanced life benefits.
Backed by 115 years of experience in serving HNW customers
With Transamerica's heritage of serving high net worth (HNW) customers for 115 years and pioneering expertise in managing universal life insurance portfolios for over 40 years, TLB first launched its innovative Genesis IUL series in 2021 to serve the increasing needs of HNWIs for lifetime protection, options for wealth optimization and liquidity to accessing cash. The newly upgraded Genesis II offers even greater growth potential and flexibility, as well as extended life protection for different family wealth and business continuation needs.
Greater flexibility for aligning personal priorities and family goals with fortified life benefits
According to a research, more than half of HNWIs across Asia-Pacific (APAC) indicated that protecting their families and ensuring they are taken care of is a clear constant goal, but more needs to be done in terms of aligning and structuring their family wealth. Also, more than half indicated they require a balance among their values, beliefs and returns in their insurance portfolios.
Jeremy Young, Chief Commercial Officer of TLB said, "While providing our customers with a wider variety of options and personalized solutions to meet their specific family and business needs, the upgraded Genesis II Indexed Universal Life insurance plan also allows us to better serve a more diverse group of target customers across the globe as we strive to diversifying our offerings and distribution approaches to drive overall business growth over the coming years."
Customers of Genesis II can opt for a Fixed Account, Index Accounts, or a combination of both, and transfer funds across the accounts under a policy to suit their evolving wealth maximization and preservation needs.
A wider and innovative choice of index account options to seize opportunities and maximize wealth
Taking into account the shifting needs of HNW customers in aligning their personal priorities and family goals, Genesis II incorporates a wider choice of index account options. In addition to a focus index account tracking a major index's performance and a global index account covering three major indices across the globe, two new index account options have been added for Genesis II:

• US market index account: This index account is tied to U.S. stock indices covering the three major market capitalization segments, namely large-cap, mid-cap and small-cap, to form the best performance framework and to provide diversification across U.S. companies of different sizes and growth stages. A special feature of the US market index account is that every year, it combines large-cap performance with whichever segment performs better between mid-cap and small-cap, so as to help minimize volatility while enhancing return potential.
• Shariah compliant index account: Solely tied to a Shariah index, this option focuses on Shariah-compliant constituents. The index company applies a screening process to exclude companies involved in activities prohibited by Islamic law, such as those related to alcohol, gambling, pork, interest-based financial services and certain forms of entertainment.

Chirag Rathod, Chief Executive Officer of TLB, said "The investment sentiments and strategies of HNWIs are changing to reflect shifting priorities and we need to make sure we are there to support the changes,". Chirag continued, "The introduction of Genesis II Indexed Universal Life insurance plan is not only timely in providing greater flexibility for our customers to seize investment opportunities amid market volatility, it also underscores our longstanding commitment to pioneering new and innovative ways in safeguarding their wealth with a lifetime of financial security."
The launch of Genesis II aligns with TLB's growth ambition by making the business more accessible and more accommodating to a wider variety of preferences of our distribution partners, brokers and banks. Through product offerings diversification we are able to better serve customers' unique needs as a globally aligned and locally relevant HNW insurance solutions provider.
###
This press release serves only as an overview and is not an offer to sell or a solicitation to buy any of TLB's products. It is provided for informational purposes only and should not be construed as financial, tax or legal advice. Customers and other interested parties should seek independent financial, tax and legal advice. All monetary values reflected in these materials are in US dollars. This information is current as of February 2024. Customers and other interested parties should refer to the policy contract for detailed terms and conditions. Although care is taken in preparing this material, TLB disclaims any express or implied warranty as to the accuracy of the content and any liability with respect to it. For detailed product information, applicable terms and conditions, please read the product summary of Genesis II (downloadable at https://www.transamericalifebermuda.com/Genesis%20II_ProductSummary_SG_PR.pdf).
Hashtag: #TransamericaLifeBermuda

The issuer is solely responsible for the content of this announcement.

About Transamerica Life Bermuda:

Transamerica Life (Bermuda) Ltd. (TLB) is a recognised leading HNW life insurance provider with extensive expertise in all aspects of HNW wealth protection, including handling large sums assured and complex cases supporting legacy and business planning. The Transamerica heritage began in 1928 as Transamerica Corporation, has been rooted in Asia for over 90 years and a pioneer in managing universal life portfolios from over 40 years ago. TLB was awarded an "Outstanding Responsible Insurer (2021)" award and a "Best-in-Class (2021)" award for its Universal Life Alpha product at the 12^th Benchmark Wealth Management Awards in Hong Kong. TLB is part of the Aegon Group, an integrated, diversified, international financial services group that offers investment, protection, and retirement solutions. Further information about TLB is available here:

www.transamericalifebermuda.com

About Aegon:

Aegon is an international financial services holding company. Aegon's ambition is to build leading businesses that offer their customers investment, protection, and retirement solutions. Its portfolio of businesses includes fully owned subsidiaries in the US, UK, and a global asset manager. In addition, Aegon has partnerships in Spain & Portugal, Brazil, and China, which create value by combining strong local partners with Aegon's international expertise. In the Netherlands, Aegon generates value via a strategic shareholding in a market leading insurance and pensions company. Aegon's purpose of helping people live their best lives runs through all its activities. As a leading global investor and employer, Aegon seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion & diversity. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com.