Transamerica History

In 1904, Amadeo Giannini, who had a reputation for helping small merchants and immigrant farmers, founded the Bank of Italy in a converted San Francisco saloon. His goal was to make financial services available to everyone — an innovative idea at the time. Two years later, in the chaotic days after the devastating 1906 earthquake and fire, Giannini set up a makeshift bank on a desk on the San Francisco docks. Instead of collateral, he required only a handshake when giving residents loans to rebuild.

Giannini was never one to make a big deal about his role in helping the city and its residents rebuild, but still his reputation and business grew. He continued to drive innovation in the industry by serving the underserved, and in 1921, he opened a bank for women staffed entirely by women.
 

In 1928, he consolidated his bank into what would become Bank of America. Two years later, the organization acquired the Occidental Life Insurance Company through the newly created holding company, Transamerica Corporation. Less than two decades later, in 1946, Giannini’s bank would become the largest private bank in the world. In 1956, the Bank Holding Company Act required Transamerica to choose between banks or non-bank investments. Transamerica chose insurance.
 

During those expansion years, Giannini’s legend grew as he provided funding at a critical time to the emerging California agricultural and wine industries. The generous banker also purchased bonds to secure the construction of the Golden Gate Bridge during the Great Depression. He even loaned Walt Disney the money to complete his first full-length animated film, Snow White and the Seven Dwarfs.

In 1999, A.P. Giannini was included in Time magazine’s list of the 100 most influential people of the 20th century. That same year, Transamerica became part of Aegon, a leading international financial services holding company.

Together, they help even more people live their best lives. As a leading provider of retirement, employee benefits, life insurance, annuities, and investment solutions, Transamerica continues to help everyone make the most of what’s important to them.

Today, we’re as committed to helping people as our founder was over a century ago. For our next chapter, we’re focused on helping the heart of our nation to thrive. That’s why we design products that work in people’s real lives today and anticipate an evolving future. So no matter where someone is on their journey, we can help them develop the freedom and confidence to live the life they want.