Transamerica Taps Jonathan Cressman to Head Annuity Sales for Individual Solutions

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Feb 22, 2022, 09:00 ET

BALTIMORE, Feb. 22, 2022 /PRNewswire/ -- Transamerica has appointed Jonathan Cressman as Vice President and Managing Director for Annuities Wholesale Distribution in the company's Individual Solutions division, which provides insurance and investment solutions to customers throughout the U.S.

At Transamerica, Mr. Cressman will lead annuity distribution strategy and execution for a stable of financial planning products, including the Transamerica Income Edge^SM 1.2 living benefit rider, a straightforward, flexible, and cost-efficient way to create income for life and the Transamerica Principal Optimizer^SM, an optional annuity rider that aims to protect the investor's principal and earnings from market downturns.

Mr. Cressman will also concentrate on bringing new innovative annuity product solutions to market that offer growth potential and investment protection in a cost-effective product to help make clients' financial futures more predictable. Mr. Cressman will report to Dave Curry, Chief Distribution Officer for Transamerica's Individual Solutions division.

"Jon is a premier financial services executive whose expertise ranges from product launches to operations, marketing and team development," said Dave Curry. "He brings a passion for building powerful teams by leveraging diversity of thought, style and skill sets to achieve outstanding results. Jon's addition highlights our strong commitment to the annuity business, where we remain focused on delivering innovative products as well as being a leading investments product manufacturer and a first-class distribution organization. Jon is an example of Transamerica's ability to add industry-leading talent to help customers achieve financial security."

Mr. Cressman brings more than 25 years of industry experience, including 15 years leading teams in the annuity sector. Most recently he served as national sales manager for independent broker-dealer and bank/wirehouse channels at Prudential. Mr. Cressman earned a Bachelor of Arts degree from Yale University, and holds Series 6, 63, and 26 securities registrations.

Transamerica helps more than 11 million customers throughout the U.S. prepare for a lifetime of financial security with insurance, investment, and retirement solutions. Aegon, Transamerica's parent company, is a diversified financial services group focused on providing investment, protection, and retirement solutions.

About Transamerica
With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout the United States. Recognizing the necessity of health and wellness during peak working life, Transamerica's dedicated professionals work to help people take the steps necessary to live better today so they can worry less about tomorrow. Transamerica serves nearly every customer segment, providing a broad range of quality life insurance and investment products, individual and group pension plans, as well as asset management services. In 2020, Transamerica fulfilled its promises to customers, paying more than $49 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica is headquartered in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa and Denver, Colorado. Transamerica is part of the Aegon group of companies. Based in the Netherlands, Aegon is one of the world's largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide. For the full year of 2020, Aegon managed over $1.1 trillion in revenue generating investments. For more information, please visit www.transamerica.com.

About Transamerica Variable Annuities
Variable annuities are long-term, tax-deferred vehicles designed for retirement purposes and are subject to investment risk, including possible loss of principal.

If the Transamerica Principal Optimizer^SM rider is elected, Transamerica requires the policy value to be allocated in a manner described in the contract, which may include a volatility control strategy. In periods of high market volatility, volatility control strategies could limit participation in market gains; this may conflict with investment objectives by limiting the ability to maximize potential growth of the policy value and, in turn, the value of any guaranteed benefit that is tied to investment performance. Volatility control strategies are intended to help limit overall volatility and reduce the effects of significant market downturns during periods of high market volatility, providing policy owners with the opportunity for smoother performance and better risk-adjusted returns. There is an additional fee for the rider which, in part, pays for protecting the benefit base from investment losses. Since the benefit base does not decrease as a result of investment losses, volatility control strategies might not provide a meaningful additional benefit to investors. Underlying funds with volatility control strategies may not be consistent with all investment objectives. There may be other investment options available under the rider that do not invest in funds that utilize volatility control strategies.

While the Transamerica Principal Optimizer^SM rider is effective, quarterly rebalancing is required and will take place at the end of each quarter on the same date the rider fee is deducted. The guaranteed future value cannot be annuitized and is not payable as a death benefit. No further benefit is provided after the guaranteed future value date unless an optional reset is elected.

Annuities are issued in all states except New York by Transamerica Life Insurance Company, Cedar Rapids, Iowa and in New York by Transamerica Financial Life Insurance Company, Harrison, N.Y. Annuities are underwritten and distributed by Transamerica Capital, Inc., 1801 California St., Suite 5200, Denver CO 80202, FINRA member. References to Transamerica may pertain to one or all of these companies.

All guarantees, including optional benefits, are backed by the claims-paying ability of the issuing insurance company.

All policies, riders, and forms may vary by state, and may not be available in all states. Transamerica Principal Optimizer^SM rider form numbers are ICC18 TRGL16IC-0318(IS), ICC18 TRGL16IC-0318(IJ), TRGL16FL-0318(IS), TRGL16FL-0318(IJ), FRGL16NY-0318(IS), FRGL16NY-0318(IJ). Transamerica Income Edge℠ 1.2 rider form numbers are ICC18 TRGL16IC-0318(IS), ICC18 TRGL16IC-0318(IJ), TRGL16FL-0318(IS), TRGL16FL-0318(IJ), FRGL16NY-0318(IS), FRGL16NY-0318(IJ).

For more information on a variable annuity please go to www.transamerica.com for prospectuses. You should consider the objectives, risks, charges, and expenses of an investment carefully before investing. Read them carefully before you invest.

Media inquiries:
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Erin Yang
(303) 383-5295

Julie Quinlan
(303) 383-5923

SOURCE TRANSAMERICA