BANKING/FINANCE
Compiled by James S. Granelli, Times staff writer
A subsidiary of US Facilities Corp. in Costa Mesa said it has agreed to be the exclusive nationwide underwriter and marketing manager for Great-West Life Assurance Co.’s group term life insurance business.
The subsidiary, USB Insurance Services, will sell the group term life policies through USB’s existing network of third party administrators, which handle self-insured employer health plans. The network currently has about $3.2 billion of group term life insurance in force, according to a company spokesman.
US Facilities is a holding company for insurance and reinsurance subsidiaries.
