Divestiture • Financial Services

CUNA Mutual Group Acquires Assurant - Global Preneed

On March 9, 2021, CUNA Mutual Group acquired financial services company Assurant - Global Preneed from Assurant for 1.3B USD

Acquisition Context
  • This is CUNA Mutual Group’s 1st transaction in the Financial Services sector.
  • This is CUNA Mutual Group’s largest (disclosed) transaction.
  • This is CUNA Mutual Group’s 2nd transaction in the United States.
  • This is CUNA Mutual Group’s 1st transaction in New York.

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M&A Deal Summary

Date March 9, 2021
Target Assurant - Global Preneed
Sector Financial Services
Buyer(s) CUNA Mutual Group
Sellers(s) Assurant
Deal Type Divestiture
Deal Value 1.3B USD

Target Company

Assurant - Global Preneed

New York, New York, United States
Assurant's Global Preneed is a provider of financial services to clients.
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Buyer Overview 1

Buyer

CUNA Mutual Group

Madison, Wisconsin, United States

Category Company
Sector Insurance
DESCRIPTION

CUNA Mutual Group is a provider of financial services to credit unions, their members and valued customers worldwide. With more than 75 years of market commitment, CUNA Mutual Group’s vision is unwavering: to be a trusted business partner who delivers service excellence and customer-focused, best-in-class products and market-driven innovation.


Deal Context for Buyer #
Overall 2 of 2
Sector: Financial Services 1 of 1
Type: Divestiture 1 of 1
State: New York 1 of 1
Country: United States 2 of 2
Year: 2021 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-15 CuneXus Solutions

Santa Rosa, California, United States

CuneXus provides a seamless lending experience across every touchpoint, from targeted email and postal mail loan offers, through online and mobile banking access, to branch and call center customer support. Its digital platform enables financial institutions to offer pre-approved, “click-to-accept” consumer loans to customers where and when they need them. CuneXus is based in Santa Rosa, California.

Buy -

Seller Profile 1

SELLER

Assurant

Atlanta, Georgia, United States

Category Company
Founded 1892
Sector Insurance
Employees14,200
Revenue 11.5B USD (2024)
DESCRIPTION
Assurant office complex in Doral, Florida.
Assurant office complex in Doral, Florida.

Assurant is a provider of specialty insurance products in the U.S. and in select worldwide markets. The company operates its business through four business segments: Assurant Employee Benefits, Assurant Health, Assurant Solutions, and Assurant Specialty Property. Assurant was incorporated in 1969 and is based in Atlanta, Georgia.


Deal Context for Seller #
Overall 4 of 4
Sector: Financial Services 3 of 3
Type: Divestiture 4 of 4
State: New York 2 of 2
Country: United States 4 of 4
Year: 2021 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-17 EPG Insurance

Memphis, Tennessee, United States

EPG Insurance, Inc. is a provider of service contracts and insurance sold through heavy equipment dealers and manufacturers. EPG Insurance specializes in physical damage insurance for commercial auto and commercial equipment, service contracts for commercial equipment, and loss damage waivers for commercial equipment. EPG Insurance was founded in 1987 and is based in Memphis, Tennessee.

Buy $43M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-04 iSmash

London, United Kingdom

iSmash is an independent tech repair brand, offering express drop-in repair services for smartphones, tablets and laptops. iSmash was founded in 2013 and is based in London, England.

Buy -