NAILBA could merge with Finseca

Finseca – the group resulting from the merger of the Association for Advanced Life Underwriting with GAMA International – could combine with the National Association of Independent Life Brokerage Agencies.

NAILBA and Finseca announced today that their boards of directors have voted to initiate the merger review process.

“This process is the culmination of due diligence conducted by a joint task force that included members and staff from NAILBA and Finseca,” NAILBA and Finseca said today in an announcement of the merger agreement. . “The next step in the process is to bring the work of the joint task force to the respective members. “

Jason Lea, the outgoing president of NAILBA, said in a comment, included in the announcement of the deal, that a combination with Finseca would give the NAILBA community the benefits of being part of a larger organization and of being part of a larger organization. ‘have a louder voice.

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“The task force strongly believes that Finseca is the ideal partner for NAILBA,” Lea said.

Jeri Turley, president of Finseca, and Marc Cadin, CEO of Finseca, said the combination would help consumers, giving members more influence in policymaking.

Dan LaBert, CEO of NAILBA, said the group has served the independent brokerage distribution community well for over 40 years.

Today, “the threats to the profession have reached critical mass, and it is time for all of us to sit down to discuss the opportunities that a coming together of forces would create for each of us individually and collectively,” said LaBert.

Finsec

AALU and GAMA International announced the agreement that created Finseca in July 2020.

Finseca is too new to have filed a Form 990, or annual report for tax-exempt groups, with the IRS.

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