While the 550,000 policyholders of the newly restructured CMFG Life Insurance Co. may not see any substantial changes, the firm's parent company is looking forward to how the move will help it diversify and expand beyond the credit union industry.
Effective Feb. 1, CUNA Mutual Insurance Society reorganized to a mutual insurance holding company structure, according to CUNA Mutual Group. CUMIS' new name is CMFG Life Insurance Co.
The company will continue to be mutually owned with the same policyholders having full ownership of the new parent mutual holding company entity, according to CUNA Mutual. In addition, the new mutual holding company and its subsidiaries will continue to use the trade name CUNA Mutual Group.
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