Thomas P. Donaldson, president and CEO of LOMA, and Robert A. Kerzner, president and CEO of LIMRA International, said a merger could be highly beneficial, both to the organizations and to the companies they serve.
"This makes a lot of sense," said Donaldson. "LOMA and LIMRA are very complementary in their services. Through a merger we could achieve strong synergies and economies of scale."
LIMRA offers research, consulting, and other services to help member companies gain maximum marketing and distribution effectiveness. LOMA offers research and educational programs to help members improve operational performance. Both organizations have strong well-established brands in the industry and a broad international presence.
"I believe this is good for both organizations, and for the industry we serve," said Kerzner. "Together we can create a powerful combination that will grow and endure."
Kerzner estimated that a merger could be many months — possibly a year or longer — away as representatives of LIMRA and LOMA conduct due diligence and examine all the issues of bringing the two together.
"These are great organizations with powerful brand equity, highly respected for our expertise in the areas we serve," Kerzner said. "We very much intend to preserve the brand and identity of each as we investigate the best way to combine."
Both organizations generate revenues from a combination of member dues and sales of services, such as consulting, educational programs, assessment, and compliance services. Both have worked to become lean and efficient, so a major benefit of a merger would be to position both for increased financial strength and growth opportunities, as well as improved operational efficiency.
Howard S. Drescher, (860) 285-7875, firstname.lastname@example.org
Catherine Theroux, (860) 285-7787, email@example.com
About LIMRA International
LIMRA International is a worldwide research, consulting and professional development organization that helps more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA International at www.limra.com