The presidents of LIMRA International and LOMA--two international associations that provide their insurance and financial services company members with research, marketing, distribution, and operational services--issued a joint announcement Nov. 28 disclosing that the two groups are in talks that "could lead to a merger" of the two organizations.
The announcement, made by Thomas Donaldson of LOMA and Robert Kerzner of LIMRA International, noted the strong "synergies and economies of scale" that such a merger would provide, in Donaldson's words, though Kerzner pointed out that pre-merger talks could last a year or longer.
LIMRA International was founded in 1916, was formerly known as the Life Insurance Marketing and Research Association, and has 800 members in 60 countries. LOMA, founded in 1924, has 1,200 members in 80 countries. It was formerly called the Life Office Management Association.
The two associations already cosponsor a number of industry conferences in North America and overseas.