Foley & Lardner LLP acted as legal counsel to CUNA Mutual Group, a broad financial services provider, in its acquisition of Global Preneed, a prearranged funeral insurance and final expense business, from Assurant, Inc. for approximately $1.35 billion in cash, which closed on August 2, 2021.
Global Preneed serves more than 2 million consumers in the United States and Canada. Acquiring this business enables CUNA Mutual Group to further serve the growing middle market and ensures its consumers have access to solutions that help build financial stability. The acquisition also provides the opportunity to add a business already at scale as CUNA Mutual Group enters new markets to protect even more consumers.
The Foley team was led by partners Ethan Lenz, Tom Hrdlick, and Maureen Easton, and included support from associates J.J. Silverstein, Matt Kiel, and Sam Kuzniewski.