CICA, NRRA Break Off Merger Talks
The Captive Insurance Companies Association and the National Risk Retention Association have “mutually agreed to cease merger discussions,” the two alternative market groups announced.
No specific reasons were given, but the groups in a statement said their boards “considered the technical, legal and financial aspects of a merger, and the respective institutional cultures” as well as the effect on their own “long-term strategies.” Their conclusion was that “moving forward with a merger at this time would not provide sufficient additional benefits for members.”
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