NAPSLO, AAMGA Members OK Merger; New Wholesale & Specialty Association Is Born

July 25, 2017

Members of the American Association of Managing General Agents (AAMGA) and the National Association of Professional Surplus Lines Offices (NAPSLO) have approved a merger of the two associations, creating the new Wholesale & Specialty Insurance Association (WSIA).

According to the joint announcement, 89 percent of the AAMGA’s votes and 93 percent of NAPSLO’s votes were in support of the merger and affirmed the creation of the WSIA, effective August 1, 2017.

The AAMGA said it received 270 of 348 eligible member votes representing a 78 percent quorum of its membership.

NAPSLO said it received 241 of 452 eligible member votes representing a 53 percent quorum of its membership.

“WSIA has been developed through a very thoughtful and purposeful process,” said Hank Haldeman, Merger Committee chair. He said members voted for more than a simple merger of the two existing organizations. Instead they have “endorsed the creation of a new world-class member services association that will serve the entire wholesale, specialty and surplus lines industry.”

Haldeman said the merger committee envisioned an association that will offer members even greater services and value in one new organization.

WSIA will be governed by a board of directors that includes both legacy organizations’ members.

Corinne Jones, AmWINS Access, will serve as president.

“It is an honor to serve as the first president of WSIA, and I’m looking forward to the work that’s ahead,” said Jones. “This merger is not simply a refresh or rebrand of two legacy organizations, but a brand-new association dedicated to developing and strengthening the wholesale, specialty and surplus lines insurance industry.”

“This is an exciting time for our association,” said NAPSLO President Dave Leonard.

In April, boards of directors for both the AAMGA and NAPSLO approved the merger proposal, an agreement and plan of merger, and a board resolution to merge.

The merger proposal outlined the material terms in connection with the merger of the AAMGA and NAPSLO, outlined the process and timing of the merger and documented the terms and conditions applying to the merger.

WSIA will become operational on August 1, and the integration of programs and events will begin immediately.

One of the first opportunities to participate at WSIA will be at the WSIA Annual Marketplace, formerly the NAPSLO Annual Convention, which is Sept. 10-13 in San Diego.

“Members will see the WSIA brand incorporated into all programs and services in coming months, as we offer a combined slate of education programs that includes all the same opportunities that each organization has traditionally offered,” said Brady Kelley, WSIA executive director.

Kelley said WSIA will also continue its forum for its under-40 members by combining the programming and events of the AAMGA’s Under Forty Organization and NAPSLO’s Next Generation into WSIA’s U40.

Source: WSIA

Topics Mergers & Acquisitions Excess Surplus Oklahoma

Was this article valuable?

Here are more articles you may enjoy.

Latest Comments

  • July 25, 2017 at 4:15 pm
    mightyquinn says:
    Do they pronounce that Wussia? Hope not. The Democrats will force them to change the name. Wees-ia? Sounds too much like Weezer. Wiss-ia? Too close to Piss-ia, PSIA.
  • July 25, 2017 at 2:29 pm
    Mee2 says:
    Letting my surplus lines license lapse after leaving an industry I mostly enjoyed for almost 30 years. It was fun for a long time; then it wasn't. Met some great people; met s... read more
  • July 25, 2017 at 2:17 pm
    Dave says:
    It will be difficult to call the convention anything other than NAPSLO. Good thing I'm retiring soon and won't have to worry about it.

Add a CommentSee All Comments (3)Add a Comment

Your email address will not be published. Required fields are marked *


More News
More News Features