SunPoint Assumes CUNA Mutual's Runoff Portfolio

SunPoint Holdings Ltd., through its wholly owned subsidiary SunPoint Reinsurance Ltd., has assumed a runoff portfolio of workers’ compensation liabilities from CUNA Mutual Group. CUNA, a Wisconsin-based insurance group, provides financial services to credit unions across the U.S. The portfolio in the SunPoint transaction was underwritten from 1978 through 2008 and primarily covers clerical employees of CUNA’s credit union customers. SunPoint assumed the insurance risk and administration of the portfolio through collateralized reinsurance and a claims service agreement, givin...