AIA/APCI Approve Merger Starting Jan. 1

Monday, December 24, 2018 | 0

The memberships of two associations that represent workers' compensation insurers have approved a long-awaited merger, creating a lobbying group that represents almost 60% of the property and casualty market.

Starting Jan. 1, the American Insurance Association and the Property Casualty Insurance Association will be known as the American Property Casualty Insurance Association (APCI), the groups announced Friday. The merged group will represent more than 1,330 member companies that write more than $350 billion in annual premium.

“APCI will reflect the broad diversity of the united membership and continue both organizations’ strong support for promoting and improving private competitive insurance market solutions and the U.S. state-based regulatory system through effective public policy engagement," reads a joint statement from Anthony Kuczinski, CEO of Munich Reinsurance America Inc. and chairman of the board of AIA, and from Pete McPartland, CEO of Sentry Insurance and chairman of the board of PCI.

The merger leaves two organizations that represent property and casualty insurance interests in Washington and in state legislatures, APCI and NAMIC, the National Association of Mutual Insurance Companies. NAMIC represents about 1,400 member companies that write $253 billion in annual premiums, the group's website shows.

“Some work still lies ahead to fully integrate the two organizations, and AIA and PCI staff are committed to maintaining continuity during the transition, delivering a strong value proposition to our members, and providing ongoing thought leadership for the industry,” APCI's statement said.