Zurich acquires IUS Life
Major insurer Zurich has expanded its footprint in the group life arena by acquiring the life business of International Underwriting Services (IUS).
Sources have confirmed to Money Management that Zurich has acquired the life business of IUS in a transaction that will also see the migration of key IUS personnel to Zurich.
IUS, which established a strong reputation in the industry funds sector as a provider of income protection and similar insurance, expanded into the life arena nearly four years’ ago supported by credit union insurance specialist CUNA.
Money Management understands that the remainder of the IUS business will be folded into that of one of its major competitors in the specialist insurance arena, Coverforce.
AUTHOR
Mike Taylor
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
