NEW YORK, June 25 -- The Insurance Information Institute issued the following news release:
The Insurance Information Institute's (Triple-I) Board of Directors approved plans this month to have the Triple-I enter into an affiliation with The Institutes, and The Institutes' Board yesterday agreed to the affiliation. The terms will be finalized next month.
"With 60 years of quality work serving as the trusted voice of objective insurance information, the Insurance Information Institute's brand is invaluable to us. Combining their assets with ours will allow both organizations to turn the page on the next chapter of their operations and sets both of us up for continued long-term success," said Peter Miller, CPCU, president and CEO of The Institutes, a global provider of risk management and insurance education and research. "Together, we will be better empowered to serve those interested in risk management and insurance."
"This forward-looking decision is the culmination of several years of strategic dialogue both internally at the Triple-I and with The Institutes. Taking this next step will further unify our collective efforts when it is needed most, grant both the Triple-I and The Institutes greater access to a deeper bench of resources and expertise, and improve value for Triple-I's member companies across the country," said Sean Kevelighan, CEO, Triple-I, a trusted source of unique, data-driven insights on insurance.
The affiliation, which will bring the Triple-I brand into the Malvern, Pennsylvania-based The Institutes structure, reflects the changing landscape of the broader industry and the economy. Moreover, it will unify two trusted data-driven organizations and continues The Institutes' strategy in recent years to leverage the synergies of like-minded organizations.
For Triple-I, this evolution is the next step in the organization's pursuit of a modern, transparent, and team-oriented structure that reflects the diversity and breadth of their membership.
Additional details will be announced publicly as the deal is finalized in July.