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Transamerica has put Mike Brodeur in charge of trying to make financial services professionals as excited about protecting ordinary Americans against the risk of premature death and post-retirement poverty as they are about helping millionaires with their yacht money.
Brodeur will be president of the company's World Financial Group arm, a distribution organization that manages a network of 92,000 independent agents.
He has been the organization's chief operating officer since 2023.
Will Fuller, Transamerica's CEO, emphasized in a statement that Brodeur's new role is part of an effort to remake World Financial Group.
"We're building a more dynamic platform," Fuller said.
The move comes as Aegon, Transamerica's giant corporate parent, is preparing to move its headquarters to the East Coast of the United States, from The Hague, in the Netherlands, and change the corporate name to Transamerica, from Aegon, in an effort to increase sales of life insurance and annuities to middle-market consumers, as well as increasing sales of retirement plans to their employers.
What it means: The biggest financial services companies have tended to focus on the high-net-worth and mass affluent markets in recent years.
Transamerica's reboot could bring middle-market sales efforts off the back burner and make them hot again.
Mike Brodeur: Brodeur has a bachelor's degree from Holy Cross and a master's degree in business from Bryant University.
He started out in insurance as a vice president at MassMutual. He later served for almost four years as president of VALIC Financial Advisors, a company that is now part of Corebridge, before moving to World Financial Group.
Transamerica: Transamerica was once one of the biggest financial services companies in the United States, with control over a corporate family that included the United Artists film studio and Budget Car Rental.
In 1972, it built a famous triangle-shaped building in San Francisco.
It later simplified its organization, sold itself to Aegon in 1999 and worked to restructure its product portfolio. It continued to maintain a high profile by supporting the Transamerica Center for Retirement Studies research organization.
The company ranked fifth in terms of the number of U.S. individual life policies sold in the third quarter of 2025, with 186,694 new policies placed, and 10th in terms of new annualized individual life premiums, with $411 million generated, according to LIMRA issuer survey data.
The company recorded 78,834 in new indexed universal life policy sales and $283 million in new annualized IUL policy premiums. It ranked second in terms of the new IUL policy count and fourth in terms of new annualized IUL premiums.
The company generated $2.5 billion in new premiums from the sale of U.S. individual variable annuities, and it ranked 12th in that category. About $1.6 billion of the total came from sales of registered index-linked annuities and $926 million from the sale of traditional variable annuities.
Correction: An earlier version of this article described Mike Brodeur's position at VALIC and Corebridge incorrectly. He was president of VALIC.
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