trending Market Intelligence /marketintelligence/en/news-insights/trending/9rfpyrhs-fxtcrezrt7yha2 content esgSubNav
In This List

Central 1 CU to remove ownership interest in CUMIS insurance operations

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


Central 1 CU to remove ownership interest in CUMIS insurance operations

Central 1 Credit Union will remove its ownership interest in CUMIS insurance operations, which it has shared with Co-operators Group Ltd. since 2009.

CUMIS General Insurance Co. and CUMIS Life Insurance Co. will become fully owned subsidiaries of Co-operators Group, which will retain the CUMIS brand in the credit union marketplace. Immediately following the transaction, CUMIS General Insurance Co. will be restructured to become a subsidiary of Co-operators General Insurance Co.

Central 1 CEO Mark Blucher said the transaction will allow the credit union to focus its attention and resources on banking and payments services.

The transaction is expected to close March 31.