Two major financial services organizations could unite by Jan. 1, 2008.
The boards of LIMRA International, Windsor, Conn., and LOMA, Atlanta, have agreed to proceed with efforts to form LL Global Inc., Windsor, Conn., an umbrella organization that would provide a “unified management structure” for both groups.
LIMRA, a market research consortium, would focus on research projects, and LOMA, which now conducts some research as well as running educational programs, would focus on running the educational programs.
All 800 LIMRA members and all 1,200 LOMA members would become LL Global members.
Robert Kerzner, president of LIMRA, would be the chief executive of LL Global.
Thomas Donaldson, president of LOMA, would be chairman of LL Global until he retires at the end of 2008, according to LIMRA and LOMA.
LIMRA and LOMA would continue to maintain separate identities, and they would maintain separate offices in Windsor and Atlanta.
“Bringing LIMRA and LOMA together will be good for the industry, our members, and our dedicated employees who serve our members,” Kerzner says in a statement about the proposed deal.
LIMRA and LOMA officers began talking publicly about the possibility about forming a combination in November 2006.
LIMRA and LOMA are getting ready to send combination ballots to members. They hope to announce a vote tally by mid-December, the groups say.