Description With a name that harkens back to the earliest days of a new republic, Western Reserve Life Assurance of Ohio offers term, universal, and variable universal life insurance policies, retirement plans, and variable annuities to individuals throughout the US. The company distributes its products, including those with its sister company's Transamerica brand, through independent agents. Founded in Cleveland in 1958, Western Reserve Life Assurance moved to Florida ten years later, but kept "of Ohio" in its name. The company has been a subsidiary of Dutch insurance giant AEGON since 1991.