Transamerica Appoints Executive Director of Government Affairs

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Feb 24, 2015, 05:00 ET

BALTIMORE, Feb. 24, 2015 /PRNewswire/ -- Transamerica announces the appointment of Michael F. Consedine as Senior Vice President, Deputy General Counsel & Executive Director of Government Affairs, overseeing all aspects of the company's state and Federal government relations.

Mr. Consedine has spent his entire 20-year career in the insurance industry, as a regulator, policy advisor and counsel. Most notably, he served as the Insurance Commissioner for the Commonwealth of Pennsylvania from 2011 to 2015. Pennsylvania is the fifth largest insurance market in the United States in terms of premium volume, as well as the 14^th largest insurance market in the world. In addition, Mr. Consedine served as President-Elect and in other officer positions within the National Association of Insurance Commissioners (NAIC), during which time he chaired a number of NAIC committees focused on matters of international and domestic relevance for the U.S. insurance sector. In 2011, he was named by the U.S. Treasury Department as a member of the Federal Advisory Committee on Insurance, charged with advising the Federal Insurance Office on domestic and international policy. Mr. Consedine also served as a U.S. representative on bi-lateral discussions with the European Union on mutual recognition of each jurisdiction's insurance systems and was an Executive Committee member of the International Association of Insurance Supervisors. Prior to his time as Commissioner, Mr. Consedine was a Partner and Vice-Chair of Saul Ewing LLP's Insurance Practice Group.

Transamerica President & CEO Mark Mullin stated: "We are delighted to welcome Michael to Transamerica. Never has what we do and provide been more necessary to enabling individuals and families achieve long-term financial security. As a company serving customers in all 50 states, we remain committed to an open and interactive dialogue with those whose decisions impact our ability to deliver the trusted solutions Americans seek." Added General Counsel, Jay Orlandi: "Michael's in-depth knowledge of the insurance sector and unrivaled expertise regarding the policy and regulatory issues impacting our sector, both in the domestic and international spheres, will be invaluable given the global reach of our business."

Mr. Consedine concluded, "This is a dream position for me and I'm incredibly excited to be lending my knowledge and expertise to benefit Transamerica and its policyholders during this dynamic time for the insurance industry."

About Transamerica
With a history that dates back over 100 years, the Transamerica companies are recognized as leading providers of life insurance, savings and retirement and investment solutions, serving millions of customers throughout the United States. Transamerica works to Transform Tomorrow® for those who entrust its dedicated professionals with their financial needs, helping them take the necessary steps to achieve their long-term goals and aspirations.

Transamerica's corporate headquarters is located in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa. Transamerica is part of the Aegon group of companies. Aegon is one of the world's largest providers of life insurance, pension solutions and asset management products, operating in over 25 markets worldwide with some 28,000 employees. For the full year of 2014, Aegon managed $676 billion in revenue generating investments.
www.transamerica.com

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SOURCE Transamerica