LIMRA International and LOMA have concluded a proposed agreement to merge their operations and membership.
The boards of directors of LIMRA and LOMA approved the plan to join their associations and will now ask their respective members to approve it, according to a joint announcement by the 2 organizations.
If members approve, LIMRA and LOMA will come together as LL Global Inc., a not-for-profit company providing a unified management structure similar to that of a holding company.
LIMRA, Windsor, Conn., and LOMA, Atlanta, provide research, consulting, training and other services for life insurers.
Robert A. Kerzner, president and CEO of LIMRA, will head LL Global, and Thomas P. Donaldson, president and CEO of LOMA, will assume a new role as chairman of the executive committee of the board of directors of the new organization until his retirement Dec. 31, 2008.
Both groups will remain as distinct entities with their own identities and operations, according to the announcement. LL Global would be incorporated in Connecticut and based in Windsor.
Under terms of the agreement, every member of LIMRA and LOMA would also become a member of LL Global.