Member companies of LIMRA International and LOMA have voted overwhelmingly in favor of merging.
The merger of the 2 insurance and financial services trade associations will take effect Jan. 1, 2008.
Members of LIMRA, Windsor, Conn., voted for the combination 144-0, and members of LOMA, Atlanta, approved the deal with a vote of 165-6, with 1 abstention.
LIMRA will continue to conduct research on financial products, marketing and distribution, and LOMA will keep its operations in Atlanta and continue to provide specialized training for member companies’ personnel, the groups say.
LIMRA President Robert Kerzner will serve as president of the new, combined organization.
LIMRA and LOMA will operate as units of an umbrella organization, LL Global Inc., headed by Kerzner and based in Windsor.
LOMA President Thomas Donaldson will be chair of the executive committee of the LL Global board until he retires at the end of 2008.
Susan Waring, executive vice president of State Farm Life Insurance Company, Bloomington, Ill., will chair LL Global’s board.