April 5, 2019 09:30
CUMIS, a subsidiary of Co-operators, has agreed with Central 1 Credit Union to make the acquisition of the firm Credit Union Advantage Insurance Brokerage, located in British Columbia. The terms of the transaction were not disclosed.
CUMIS will take over the contracts currently being underwritten, upon their maturity. The portfolio includes property and casualty insurance products, financial protection and insurance for professional civil liability, specifies the Co-operators.
Establish a direct link
The insurer says that the acquisition ” will allow to establish a direct relationship with the savings banks, and credit partners in British Columbia to meet their insurance needs “.
“With this acquisition, CUMIS is a further step towards the consolidation and development of our relations with the caisses d savings and credit in British Columbia,” says Bob Hague, president for distribution to savings and credit at CUMIS. “We look forward to working directly with savings and credit to ensure that they have insurance products and risk management they need. We are committed to offering the same exceptional service to which they have been accustomed with the Credit Union Advantage Insurance Brokerage. “
An advisory committee of insurance
CUMIS will maintain a bureau in the province ” to provide the related service to the insurance program and will work with the system of savings banks and of credit of the province to put in place a consultative committee of insurance “.