LIMRA, LOMA Move Ahead On Their Merger Plans

Under terms of the agreement, every member of LIMRA and LOMA would also become a member of LL Global.

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 people 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, much of what they now do is complementary, Kerzner observes. But the combination would also allow cost efficiencies.

For instance, LOMA has made extensive investments in an e-learning platform that LIMRA could use to enhance educational opportunities for personnel of 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."

LIMRA and LOMA announced their plan to join in November 2006. Voting member companies of both organizations will soon receive information packages and ballots. Results of the membership vote are expected to be available by mid-December and, if approved, LL Global will begin operations as of Jan. 1.