Mergers are not the sole province of corporations. Two longtime financial trade organizations have joined the trend to consolidate. However, they will not lose their autonomy, as each will continue to function within its own area of expertise. LIMRA International (formerly known as the Life Insurance and Market Research Association), the sales and marketing research group of the insurance industry, has merged with LOMA, the research and educational organization of the insurance industry, to form LL Global, Inc., effective January 1.
Both LIMRA and LOMA will continue to exist as separate entities under the new organization’s administration and management, with each group’s headquarters remaining where it is: LIMRA in Windsor, Connecticut, and LOMA in Atlanta. The new organization is incorporated in Connecticut and its headquarters are located in Windsor. Each member of the merging organizations is now also a member of LL Global, and judging from the vote on the issue, most feel good about the change: LIMRA’s membership vote was 100% in favor of the merger, and 96% of LOMA’s membership approved the merger.
The president and CEO of LIMRA, Robert Kerzner, will serve as the president and CEO of the new organization, and Susan Waring, executive VP and chief administrative officer at State Farm Life Insurance Co. and VP at State Farm Health, will serve as chair of its board of directors. The president and CEO of LOMA, Thomas Donaldson, will serve as chair of the executive committee of LL Global’s board. Although each original organization will maintain autonomy in its own field, the new organization will allow them to seek synergies in education, research, and operations.
Benefits for Both