Reports of loss stemming from Hurricane Isaac continue to be on the low end thus far, CUNA Mutual Group said Tuesday.
While financial ratings agency A.M. Best has affirmed CMFG Life Insurance Co.’s financial strength as excellent, the firm still lists the company’s outlook as stable.
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.
CUNA Mutual Insurance Society has completed its reorganization to a mutual insurance holding company structure, according to CUNA Mutual Group.
CUNA Mutual Insurance Society, CUMIS Insurance Society and MEMBERS Life Insurance Co., have filed suit against RBS Securities Inc. claiming that the firm made false representations of its offering documents at the time that more than a dozen residential mortgage-backed securities were purchased by the three plaintiffs.
Company accuses RBS Securities of "inducing" it to buy certificates through false representations.
The ongoing saga involving PMI Mortgage Insurance and CUNA Mutual Group Mortgage Insurance entered into a new stage on Thanksgiving Eve when the PMI Group, PMI MI's holding company, filed for bankruptcy in federal court.
A plan from CUNA Mutual Group for a new mutual ownership structure recently received approval from the Iowa Insurance Commissioner.
Iowa regulator's approval opens door for new mutual insurance holding company structure to take effect Jan. 31.
At its Sept. 7 annual policyholders meeting Sept.7 CUNA Mutual Group said 93% of them approved a new mutual ownership structure for the company.