INSURANCE TRADE GROUPS AIA AND PCI MERGE TO BECOME APCI

The American Insurance Association and the Property Casualty Insurers Association of America, two trade groups representing around 60% of the US property/casualty market, have merged to become the American Property Casualty Insurance Association. The merger took effect January 1 following the approval by AIA and PCI members in late December. The merger reduces the number of national primary property/casualty insurance trade groups to two. The 1,400-member National Association of Mutual Insurance Companies represents around 40% of the market.