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LIMRA International and LOMA
Announce Plan to Discuss Merger
ATLANTA, GA--November 28, 2006--The heads of LIMRA International and LOMA announced today that they have agreed to begin discussions that could lead to a merger of the two insurance and financial industry research and service organizations.
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.
Combined, the organizations would serve a broad range of member company needs. Key areas for synergy and increased opportunities would include the ability to leverage LOMA's strong e-learning platform; cross-selling of some services and integration of others, such as educational and assessment programs; conference planning; and international sales. LIMRA and LOMA currently cosponsor numerous important industry conferences in North America and elsewhere.
About LIMRA International
LIMRA International is a worldwide association providing research, consulting, and other services to nearly 850 insurance and financial services companies in more than 60 countries. LIMRA was established in 1916 to help its member companies maximize their marketing effectiveness. To learn more, visit
www.limra.com.
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