July 11, 2014 6:56 PM ET

Insurance

Company Overview of CMFG Life Insurance Company

Company Overview

CMFG Life Insurance Company, through its subsidiaries, provides life, accident, health, annuity, and property and casualty insurance products to credit unions and their members, and customers worldwide. It offers insurance/protection products, such as credit union protection products that include bond, business auto, collateral protection, cyber and security incident, management and professional liability, mortgage insurance, plastic card, property and business liability, and workers compensation products; and member protection products, including credit insurance, debt protection, guaranteed asset protection, long-term care, mechanical repair coverage, and Medicare suite programs. The compa...

5910 Mineral Point Road

Madison, WI 53705-4456

United States

Founded in 1935

Phone:

608-238-5851

Fax:

608-238-0830

Key Executives for CMFG Life Insurance Company

Chief Executive Officer and President
Age: 58
Chief Financial Officer and Executive Vice President
Chief Executive Officer of ProAg and President of ProAg
Chief Investment Officer
Age: 67
Chief Information Officer and Senior Vice President
Age: 54
Compensation as of Fiscal Year 2014.

CMFG Life Insurance Company Key Developments

CUNA Mutual Group Announces Board Changes

CUNA Mutual Group appointed Angela K. Owens, president/CEO of American Airlines Federal Credit Union to its board of directors. Leaving the board this month after their terms expired were Alan Peppers, president/CEO of Westerra Credit Union in Denver; Larry Wilson, retired president/CEO of Coastal Federal Credit Union in Raleigh, N.C.; and Loretta Burd, retired president/CEO of Centra Credit Union in Columbus, Ind.

Cuna Mutual Group Introduces Enhanced Defense Reimbursement Coverage to Help Credit Unions

CUNA Mutual Group has introduced Enhanced Defense Reimbursement coverage to help credit unions against rising litigation costs. Housed within the company's management and professional liability insurance policy, the new coverage reimburses credit unions for certain defense costs associated with claims that are commonly not covered by liability policies. CUNA Mutual said some emerging but typically uncovered risks that led to developing enhanced defense reimbursement include: Increased levels of litigation seeking injunctive relief damages (Recent ATM and Americans with Disabilities Act litigation against credit unions); Heightened patent troll litigation activity; Growing regulatory risks driven by Consumer Financial Protection Bureau rulemaking; and disgorgement claims, such as the overdraft re-sequencing litigation.

CUNA Mutual Group Reports Earnings Results for 2013

CUNA Mutual Group reported a net income increase of 7.8% for 2013. Net income rose to $162 million, compared with $150 million in 2012. Strong operating results in lending, life, health and property and casualty products helped offset weather-related losses in the company's crop insurance business. Solid investment performance also contributed to higher net income in 2013. Operating revenue increased by 8.6% in 2013. A better lending environment, and improvements in consumer product lines and the crop insurance business, were key factors driving the year's revenue gain.

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Recent Private Companies Transactions

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Date
Target
Private Placement
July 18, 2013
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