In March 1930, Transamerica acquired Occidental Life Insurance Company, founded in 1906."Transamerica Buys Big Firm". Los Angeles Evening Post-Record. March 25, 1930. p. 3. At the time, Occidental had over $25million in assets and over $150million in life insurance policies in force. Giannini said the purchase of the West Coast-based life insurance company was part of a plan for Transamerica to control every type of financial service. Following the acquisition, Occidental was renamed Transamerica Occidental Life Insurance Company.
