CUNA Mutual Group to Acquire Assurant’s Global Prearranged Funeral and Final Expense Business

Acquisition Will Expand Company’s Middle Market Consumer Reach

CUNA Mutual Group, a broad financial services provider, today announced it has entered into a definitive agreement to acquire Assurant’s prearranged funeral insurance and final expense business in the U.S. and Canada, serving more than 2 million consumers – for approximately $1.3 billion. This investment will enhance CUNA Mutual Group’s ability to help ensure middle market consumers have access to solutions that help build financial stability.

Prearranged funeral insurance, also known as preneed, and senior lifestyle protection solutions are designed to help ease the emotional and financial burdens of consumers and their families related to planning for the later chapters of life. Acquiring Assurant’s best-in-class prearranged funeral insurance and final expense solutions business enables CUNA Mutual Group to further serve the growing middle market.

“This acquisition allows us to expand the ways we reach middle-market consumers, helping more people make financial decisions that work for them and their situation,” said Robert N. Trunzo, president and CEO, CUNA Mutual Group. “We will continue to build, buy and create partnerships to bring additional insurance, investment, and technology solutions into our portfolio to support our strategic priorities, protect even more consumers and augment our resources and financial strength.”

Like CUNA Mutual Group, Assurant’s preneed business is focused on protecting consumers and their families with simple, easy to understand products. The preneed business will operate with autonomy at its Rapid City, South Dakota location with limited integration into CUNA Mutual Group’s other business lines or operations. Since preneed solutions are provided to consumers primarily through funeral homes, the company has no plans at this time to offer these services through financial institutions, such as credit unions and banks.

The acquisition provides the opportunity to add a business already at scale as CUNA Mutual Group enters new markets to protect even more consumers. The business brings $6.5 billion of face value in-force. Assurant’s distribution model for preneed and final expense solutions includes a longstanding partnership with the largest funeral home provider in North America and many other funeral home partners and distributors across the U.S. and Canada.

The agreement includes a multiyear extension of the 23-year automobile mechanical repair coverage partnership between the companies.

Assurant President and Chief Executive Officer Alan Colberg said, “Today’s announcement represents a positive outcome for all of our stakeholders and importantly, for our Preneed employees, customers and policyholders. I am also excited to continue to further strengthen our longtime partnership with CUNA Mutual Group, built upon shared values and aligned culture and commitment to customer excellence.”

Trunzo added, “CUNA Mutual Group remains committed to helping credit unions and other strategic partners excel at reaching and addressing consumers’ needs. Ultimately, we are working to ensure a brighter financial future is accessible to everyone.”

The acquisition is expected to close by the end of the third quarter, subject to applicable regulatory approvals and other customary closing conditions. Perella Weinberg Partners LP is acting as financial advisor to CUNA Mutual Group, and Foley & Lardner LLP is acting as its legal counsel.

About CUNA Mutual Group

Built on the principle of “people helping people,” CUNA Mutual Group is a financially strong insurance, investment and financial services company that believes a brighter financial future should be accessible to everyone. Through our company culture, community engagement, and products and solutions, we are working to create a more equitable financial system that helps to improve the lives of those we serve and our society. For more information, visit cunamutual.com.

About Assurant

Assurant, Inc. (NYSE: AIZ) is a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases. Anticipating the evolving needs of consumers, Assurant partners with the world’s leading brands to develop innovative products and services and to deliver an enhanced customer experience. A Fortune 500 company with a presence in 21 countries, Assurant offers mobile device solutions; extended service contracts; vehicle protection services; pre-funded funeral insurance; renters insurance; lender-placed insurance products; and other specialty products. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future.

Learn more at assurant.com or on Twitter @AssurantNews.

Savant Wealth Management Reaches $10 Billion Milestone

MADISON, Wis. (March 9, 2021) – Savant Wealth Management, a nationally recognized, fee-only wealth management firm headquartered in Rockford, IL, with locations also in Madison and Park Falls, has hit a major milestone in its 35-year history. The firm has reached $10 billion in assets under management (AUM).

The milestone can be attributed to Savant’s long-term growth strategy and its client-centric model offering comprehensive wealth management services with a deep bench of professionals to support its services.

From 1993, when Savant began managing money, until 2011, Savant grew to nearly $2 billion in AUM entirely through organic growth. The firm made its first acquisition in 2012 and has since closed seven additional partnerships to expand its presence in the greater Chicagoland region and in new markets like Santa Fe, NM and Bloomington, IL.  In addition, the firm recently opened an office in Arizona.

“This milestone is a direct result of Team Savant and the relationships developed throughout our 35 years in business,” said Brent Brodeski, CEO and co-founder of Savant. “Despite the challenges and other curve balls we’ve faced along the way, Savant stands ready to serve, adapt, and inspire.  We remain persistent in our long-term growth strategy and commitment to providing clients wise counsel to help build ideal futures for our clients, our team, and the communities we serve.”

Savant aspires to continued growth and success in the future with an overarching goal within the next 25 years to improve more than 1 million lives.

Savant employs more than 200 team members and serves 6,500 families, over 150 companies and over 5,000 retirement plan participants.  For more information about Savant Wealth Management, visit savantwealth.com.

About Savant Wealth Management

Savant Wealth Management, formerly known as Savant Capital Management, is a leading independent, fee-only firm serving clients for 30 years with $10 billion in assets under management. Savant Wealth Management offers investment management, financial planning, retirement plan, and family office services to financially established individuals and institutions. Savant also offers corporate accounting, tax preparation, payroll and consulting through its affiliate, Savant Tax & Consulting.

Savant is headquartered in Rockford, IL, with locations in Bloomington, Chicago, Downers Grove, Freeport, Hoffman Estates, Lincolnshire, Naperville, Peoria, St. Charles, Sterling, and Wilmette, IL; Phoenix, AZ; Santa Fe, NM; Madison and Park Falls, WI; and McLean, VA. Please see Important Disclosures at savantwealth.com.

Savant Wealth Management (“Savant”) is an SEC registered investment adviser headquartered in Rockford, Illinois. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk.

As of 3/3/21. Includes both assets under management and assets under advisement. Assets under management represent the aggregate fair value of all discretionary and non-discretionary portfolios. Assets under advisement represent advisory-only assets where Savant does not have trading authority over the portfolio.

Overture Forums Panel Discussion: The COVID-19 Vaccine and the Black Community

For the next Overture Forum on MON, MAR 29, 7:30 PM, we are excited to have a distinguished panel of doctors and public health experts provide perspectives about the coronavirus vaccine as it relates to the Black community and beyond.

Panel Members:

· Aaron Perry, president & CEO of Rebalanced-Life and Wellness Association of Madison

· Dr. Sheryl L. Henderson, MD, PhD, pediatric infectious disease specialist – UW School of Medicine and Public Health

· Dr. Jasmine Zapata, MD, MPH assistant professor, researcher and educator in the UW Dept. of Pediatrics with an affiliation with the UW Institute for Clinical and Translational Research

· Dr. William Hartman, MD, PhD, principal investigator for the UW COVID-19 Convalescent Plasma Program (Adult and Pediatric Programs), principal investigator for the UW-Regeneron Monoclonal Antibody (Antispike) Clinical Trials, assistant professor of anesthesiology, School of Medicine and Public Health and medical director of UW Health Pre-Op Clinic – School of Medicine and Public Health

Moderator: Dr. Gloria Ladson-Billings, professor emerita, University of Wisconsin-Madison and former Kellner Family Distinguished Chair in Urban Education from the University of Wisconsin-Madison, Dept. of Curriculum & Instruction

Please join us for this free forum, open to the public.

WATCH THE FORUM

Transportation Law Attorney Jason E. Engkjer Joins DeWitt LLP

FOR IMMEDIATE RELEASE
March 8, 2021

FOR MORE INFORMATION CONTACT:
Michelle M. Friedman
mmf@dewittllp.com / 262-754-2877

Transportation Law Attorney Jason E. Engkjer Joins DeWitt LLP

MADISON | MILWAUKEE | MINNEAPOLIS – Today DeWitt LLP announced attorney Jason E. Engkjer has joined the firm’s Minneapolis office as a member of its growing Transportation & Logistics Practice Group.

Engkjer’s practice is primarily devoted to corporate planning, transactions and complex commercial litigation with a unique focus in transportation and supply chain law. He represents a diverse array of clients ranging from small, closely held companies to multi-national organizations on a nationwide basis, but primarily in the upper Midwest.

Engkjer is active with the Minnesota Trucking Association, North Dakota Motor Carrier Association, Transportation Lawyer’s Association and is a member of the Conference of Freight Counsel. He is a current board member and general counsel for Farm Rescue and Farm Rescue Foundation.   He is a former board member and general counsel for the Epilepsy Foundation of Minnesota and continues to actively support the organization. He regularly provides volunteer pro bono legal services through a variety of organizations and is a former ethics investigator for Hennepin County’s Fourth District Ethics Committee. Jason has also been listed as a Rising Star by Minnesota Super Lawyers.

He earned a J.D., from William Mitchell College of Law and a B.S. from the University of Kansas.  He is admitted to practice in Minnesota and North Dakota state courts, as well as Minnesota, Wisconsin and North Dakota federal courts.

About DeWitt

DeWitt LLP was founded in 1903 and is one of the ten largest law firms based in Wisconsin, with an additional presence in Minnesota. It has nearly 130 attorneys practicing in Madison and Metropolitan Milwaukee, Wisconsin, and Minneapolis, Minnesota, in a variety of legal areas and has the experience to service clients of all scopes and sizes. The firm is known for its work in several areas, including intellectual property, patents, trademarks and copyright law, construction litigation, corporate law, employment, environmental, employee benefits, estate planning, family business, family law, government relations, health care, litigation, real estate, and tax law.  More information is available at dewittllp.com.

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Dane County companies boosted through Madison Development Corporation loans

For Immediate Release
March 8, 2021

Dane County companies boosted through Madison Development Corporation loans

Firms on the upswing receive $1.6 million infusion

MADISON, WI — Five growing Dane County businesses have received a capital infusion of $1.6 million through Venture Debt Fund loans from the Madison Development Corporation (MDC).

Among the enterprises receiving 2020 loans through MDC’s Venture Debt fund are: 

• Image Mover: $250,000 for development of an app that allows images to be uploaded directly to the Epic Systems platform without breaking HIPPA rules. 
• StartingBlock Madison: $250,000 for space for start-up and early-stage companies located in American Family Insurance’s SPARK building on East Washington Avenue.
• Simple Machines: $400,000 to develop a chip technology that provides software-controlled hardware that is fast, power-efficient, and area-efficient.
• Mobile22: $250,000 for development of Transport-as-a-Service technology platform that manages and optimizes mobility. It’s designed to help organizations manage their fleets, drivers, demand and fulfillment.  
• SmartUQ: $400,000 for a predictive analytics and uncertainty quantification software tool that incorporates real world variables.

“This loan through MDC will help us leverage resources in creating software solutions that will improve the patient experience and make life more convenient,” said Kevin Houlihan, Chief Executive Officer of Image Mover. “Having access to a local entity like MDC focused on helping businesses grow and create jobs is a real plus for the Madison business community.”

Since the Venture Debt Fund was founded in 2004 by MDC and over a dozen institutional investors (including local banks, MGE, and area Economic Development Corporations), the Fund has made 67 loans totaling $19.6 million to 56 Madison companies. In 2020, investment from the Fund helped create 329 new jobs. Since inception, fund loans have helped create over 2,000 jobs in Dane County. The average loan size is $350,000. 

“Our Venture Debt Fund has assisted entrepreneurial companies grow and invest in talented people who live and work here,” said Lorrie Heinemann, MDC president and chief executive officer. “In turn, these enterprises are driving innovation and further solidifying Madison as an entrepreneurial, high-tech growth hub.”

Fostering creative start-up businesses and creating high quality jobs in Dane County is key for the community banks and local institutional investors who participate in the Venture Debt Fund.

“Our community benefits when local companies innovate, grow and hire new employees,” said John Drury, Senior Business Development Manager at Madison Gas and Electric, a lead investor in the Fund. “We’re proud to invest in our community through the Venture Debt Fund, which gives promising businesses resources at pivotal times so they can grow and thrive.”

The Venture Debt Fund draws collaborative funding from local organizations including: Bank of Sun Prairie, Capitol Bank, City of Fitchburg, First Business Bank, Madison Gas and Electric, Middleton Area Development Corp, Monona Bank, Oak Bank, Old National Bank, One Community Bank, Park Bank, River Valley Bank, Settlers Bank, Starion Financial, State Bank of Cross Plains, and Town Bank. The Fund also just received a $300,000 Capital Catalyst investment from the Wisconsin Economic Development Corporation.

“These are challenging and exciting times for companies driving change,” Fund Chair Mary Strickland said. “The MDC Venture Debt Fund is proud to partner with visionary leaders who are growing their companies here in Dane County.”

Madison Development Corporation is a non-profit organization that owns and manages 348 affordable workforce housing units in the Madison area and provides financing for hard-to-finance businesses in Dane County. Since 1977, MDC has provided loans to more than 450 businesses totaling over $35 million, which helped them create over 5,000 quality jobs in Dane County.