The Royal Bank of Scotland Group (RBS) announced today an agreement with Transamerica Life (Bermuda) Ltd. (Transamerica) to offer Transamerica's Universal Life insurance products*.The relationship is part of the bank's strategy to broaden its product suite and strengthen its position as a wealth management service provider for the mass affluent group of clients, which the bank serves under its Royal Preferred Banking platform.

RBS will make Transamerica flagship Universal Life policies - TransACESM, TransACE Elite SM, TransUltra SM and TransUltra Elite SM - available to its customers. These policies are designed to meet the growing demands of the bank's clients for wealth preservation, and wealth transfer as well as estate and trust planning. RBS is among the first financial institutions in Singapore to make available Universal Life plans to the mass affluent segment. These products are traditionally the preserve of the private bank's high-net-worth clients who use them for succession and inheritance planning.

Mr Ajay Mathur, Head of RBS's Retail Banking Singapore, commented on the agreement in a signing ceremony: Transamerica has a strong track record of providing high quality insurance products. We believe the relationship will greatly benefit RBS's mass affluent clients who will be able to access niche insurance products not readily available in the market to help them in estate planning and securing assets for coming generations.

Yen Saw, Vice President and Principal Officer at Transamerica said: For affluent individuals and businesses banking in this market, Transamerica's Universal Life products can be structured to fit a vast array of life insurance, wealth preservation and estate transfer needs with numerous features, options and benefits. Our Universal Life policies offer competitive premiums, cash value accumulation, access to cash surrender values, and exceptional policy guarantees. These products are valuable tools for effective financial and estate planning. We are pleased to have entered into this agreement with RBS as we expand our reach in this market.

Mr Mathur added: In today's increased volatile market environment, the need to balance the objectives of wealth growth with protection has become more imperative. We believe Universal Life plans should be an important part of a client's portfolio to meet both of these objectives and help mitigate the challenges of the market's vagaries.

Transamerica Life (Bermuda) Ltd. is a wholly owned subsidiary of Transamerica Life Insurance Company, a leading provider of insurance and investment products for individuals and companies. Transamerica Life Insurance Company provides clients with quality financial products at competitive prices.

RBS is a leading international bank with a total of 184 retail branches across Asia. In Singapore, the bank's Retail Banking business focuses on providing tailored wealth management services to the mass affluent group of clients and segment-targeted consumer finance products. RBS Singapore has five Royal Preferred Banking Centres and a network of over 110 automated teller machines under the ATM5 network.

About Transamerica Universal Life Policies

TransACE SM, TransACE Elite SM, TransUltra SM and TransUltra Elite SM are Universal Life policies which give the policy owner more flexibility in meeting his or her financial goals. Within certain limits, the policy owner can choose the amount of coverage, and the amount, method and timing of premium payments as his or her needs and circumstances change.

Key features of TransACE SM, TransACE Elite SM, TransUltra SM and TransUltra Elite SM:

- Guaranteed minimum credited interest rates of 3 or 4 percent, depending on the policy.
- Available for clients between the ages of 16 and 89 years.
- Minimum sum assured of USD 400,000

*Insurance products are obligations of the Transamerica Life (Bermuda) Ltd., an insurance company. They are not bank deposits or obligations of or guaranteed by The Royal Bank of Scotland. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value may be less than the total premiums paid.
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Press Enquiries

Tan Ping Ping

Tel: +65 98458904/ +65 65188497
Email : ping.p.tan@rbs.com

Notes to Editors:

The Royal Bank of Scotland Group (RBS)

The RBS group is a large international banking and financial services company. Headquartered in Edinburgh, the Group operates in the United Kingdom, Europe, the Americas and Asia, serving more than 40 million customers. The Group provides a wide range of products and services to personal, commercial and large corporate and institutional customers through its two principal subsidiaries, The Royal Bank of Scotland and NatWest, as well as through a number of other well known brands including, Citizens, Ulster Bank, Coutts, Direct Line and Churchill.

Transamerica Life (Bermuda) Ltd.

Transamerica Life (Bermuda) Ltd. ("Transamerica Life Bermuda") is a long-term insurer incorporated in Bermuda. It is a wholly-owned subsidiary of Transamerica Life Insurance Company ("TLIC"). On October 1, 2008, Transamerica Occidental Life Insurance Company ("TOLIC") merged into its affiliate, TLIC. TOLIC was founded in Los Angeles, California, in 1906, with a commitment to providing exceptional financial products and quality service. For over a century, the Transamerica companies have led the industry in the development of innovative products and earned a reputation for financial strength, stability, and dependability in helping customers meet their goals. As a subsidiary of TLIC, Transamerica Life Bermuda follows this same tradition.

TLIC, domiciled in the U.S., and Transamerica Life Bermuda, domiciled in Bermuda, are AEGON companies. AEGON NV is an international life insurance, pension and investment organization based in The Hague, the Netherlands.

Providing quality life insurance services to its Pacific Rim clientele, Transamerica Life Bermuda has branch office locations in Hong Kong and Singapore.