Science Fair Project Encyclopedia
In 1956, in response to the passage of the Bank Holding Company Act , Transamerica Corporation divested itself of its banking concerns, which then went on to become Bank of America. This left Transamerica with life insurance and property and casualty insurance operations.
Over the next 20 years, Transamerica gradually became a diversified conglomerate whose subsidiaries included United Artists (a major motion picture studio), an airline, a rental car company, and a manufacturer of machinery.
In 1972, construction of the Transamerica Pyramid skyscraper in San Francisco, California was completed. The company's headquarters was located in the building for many years, although today, it retains only a small presence in the building. Nevertheless, the company's logo still depicts the iconic building.
In the 1980s, Transamerica sold all operations that were not related to its core competency of insurance and other financial services.
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