The British Insurance Brokers' Association (Biba) and the Institute of Insurance Brokers (IIB) have confirmed they are in formal merger discussions with an aim to complete them by the end of the year.
Biba chairman, Patrick Smith, made the announcement during his opening address of the Biba 2011 conference and exhibition in Manchester.
Eric Galbraith, chief executive at Biba, said: "I strongly believe that in the new regulatory environment one voice within the broking sector is needed. One association would add strength to our lobbying campaigns on the big issues affecting brokers.
"This is a very important year for brokers and Biba will continue to focus on representing members on the forthcoming regulation changes and the review of the FSCS - areas where we are already working with the IIB."
It is intended that IIB's chief executive Barbara Bradshaw and the IIB team will form part of the combined organisation.
Ms Bradshaw commented: "There are major challenges ahead for brokers and the IIB consider that in the current economic and regulatory environment the time is right for the two organisations to build further on the collaborative working that has already been taking place with Biba."
Mr Galbraith and Ms Bradshaw confirmed that they will keep both memberships advised as discussions develop.
This article is from COVER's sister title Insurance Age
