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.
