Aegon splits top leadership role at Transamerica Life as CEO departs

Aegon Group-owned  Transamerica Life (Bermuda), a high net worth life insurance provider, has unveiled key leadership changes following the retirement of its chief executive and president Marc Lieberman.

Lieberman will retire from the company at the end of the year. He has spearheaded the insurer's strategic direction and diversification for the last five years.

Following his departure, the company plans to split its top leadership role into two jointly accountable and strategically aligned positions.

Chirag Rathod, TLB's current chief financial officer, will take on the role of CEO, and Hazel Etherington, TLB's current chief operations officer, will assume the role of president effective 1 January 2021.

Together they will form the executive committee of TLB, which will be chaired by the CEO.

TLB said the CEO leadership transition represents a significant milestone as it seeks to become a leading Asia-based HNW life insurance provider.

Damiaan Jacobovits de Szeged, chief operating officer of Aegon International: "We would like to pay special thanks to Marc for his exceptional leadership and many contributions towards growing TLB's business over the years. We wish him all the best in his plans for retirement."

"We are delighted to appoint Chirag and Hazel to take over the top leadership positions at the company. Together we believe they are ideally positioned to steer TLB through the challenging market conditions and lead TLB into its next phase of long-term growth. Both are seasoned, skilled executives and together they bring nearly 50 years of industry experience to the table. They are well respected within the company and among industry peers. We are confident they will be successful in driving and creating long-term customer and shareholder value."