MADISON, Wis. — The Iowa Insurance Commissioner has approved the merger of the CUNA Mutual Life Insurance Company with the CUNA Mutual Insurance Society, clearing the way for the insurer to consolidate two of its branches into one.

"The merger approved by policyholders and the state of Iowa will create a larger and financially stronger mutual insurance company," said Jeff Post, president and CEO of CUNA Mutual Group. "The combined companies will make CUNA Mutual Group more efficient, stronger and better able to meet the needs of credit unions and their members."

Policyholders of CUNA Mutual Insurance Society (CMIS) and CUNA Mutual Life Insurance Company (CMLIC) overwhelmingly approved merging the two entities on April 20, 2007, and Aug. 2, 2007, respectively. The state of Iowa announced its approval of the merger Sept. 6.

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