LIMRA, LOMA Complete Merger Agreement

Neither organization expects extensive staff cutbacks except for duplicate executive functions, Kerzner says. Both will continue with their existing missions, which for LIMRA has been research aimed at supporting producer and managers in the field and for LOMA has been educational programs supporting the objectives of the home offices of insurance companies.

Because the 2 groups have little mission overlap, most of what they now do is complementary, Kerzner observes. But the combination would also allow cost efficiencies.

For instance, LIMRA could use LOMA's e-learning platform to enhance training opportunities for its member companies, Kerzner points out.

"The structure is really designed to ensure we maintain a LIMRA and a LOMA that continue to serve their distinctive membership," Kerzner says. "At the same time, we're bringing them together under LL Global so that managing and running them can be done as if they were 1 organization serving the entire industry."

The reasons for merging are "really quite simple," Donaldson says. "It makes a lot of sense because our organizations are so complementary. We found many different reasons for doing it, and those reason increased the more we studied it."

LIMRA and LOMA first announced their plan to join in November 2006.

Member companies of both organizations will receive ballots next week. Kerzner expects results of the vote to be available by mid-December and that, if approved, LL Global will begin operations Jan. 1.