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CUNA transfers runoff portfolio to Fosun International unit

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CUNA transfers runoff portfolio to Fosun International unit

CUNA Mutual Group has transferred a runoff portfolio of workers' compensation liabilities to SunPoint Holdings Ltd. subsidiary SunPoint Reinsurance Ltd. through collateralized reinsurance and a claims service agreement.

The portfolio was underwritten from 1978 through 2008 and primarily covers clerical employees of CUNA's credit union customers.

SunPoint Holdings is a Bermuda-domiciled subsidiary of Fosun International Ltd. focused on the acquisition and administration of long-tailed nonlife insurance liabilities.