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.
Recommended for you
Wealth Data has revealed the top five licensees for financial adviser growth over the September quarter, with more than 150 advisers joining in Q3 overall.
Former Sydney financial adviser, David Valvo, has pled guilty in court to a charge of dishonest conduct.
Building a network of mentors and coaches with varied skill sets could help women achieve their career goals, according to an FBAA executive.
AMP has reported its Q3 results and provided a progress update on the divestment of its advice division to Entireti.