NU Online News Service, July 2, 11:30 a.m.EDT

Wholesale insurance broker Crump Group Inc. said its Ascensusdivision has agreed to acquire CUNA Mutual Group's IRA Servicesdivision. Terms of the deal were not released.

Based in Madison, Wis., IRA Services provides IRA and healthsavings account education, compliance products and services to thecredit union marketplace. It serves over 4,000 credit unionsnationwide.

The existing employees of CUNA Mutual Group's IRA Servicesdivision and the current management structure will remain with thebusiness and operate as a part of the Retirement Products &Solutions Group within Ascensus, Crump said.

Roseland, N.J.-based Crump, said it expects the transaction tobe completed on or about July 31.

Crump's Ascensus provides recordkeeping and support services tocompany-sponsored retirement plans in the micro to large segmentsof the market.

The firm also announced it has named Lee Lloyd as president ofits programs unit within the company's property and casualtydivision. Mr. Lloyd comes to Crump from United Educators Insurancewhere he most recently served as vice president of underwriting andchief actuary.