High net worth life insurer Transamerica Life (Bermuda) has announced the retirement of Chief Executive and president Marc Lieberman, effective at year end.
Moving forward, TLB intends to split Lieberman’s role into two jointly accountable and strategically aligned positions.
Chirag Rathod, TLB’s current Chief Financial Officer, will take on the role of CEO, while Chief Operations Officer Hazel Etherington will assume the role of president.
Together they will form the Executive Committee of TLB, which will be chaired by the CEO.
TLB says this CEO leadership transition represents a significant milestone as it continues to pursue aspirations to become the leading Asia-based HNW life insurance provider.
Lieberman will remain to support the CEO transition until December 31.
“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,” said Damiaan Jacobovits de Szeged, Chief Operating Officer of parent company Aegon International.
“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,” he added.
