Two insurance industry groups will likely soon combine to form the Wholesale and Specialty Insurance Association, the trade publication Insurance Journal reported.

The merger by the National Association of Professional Surplus Lines Officers and the American Association of Managing General Agents took another step after NAPSLO's board of directors approved the merger March 5. AAMGA's board had previously approved the deal Feb. 10.

Both boards are scheduled to take a final vote on the merger in mid-April.

Both associations believe the merger makes sense given their overlapping memberships, according to Insurance Journal. Seventy-seven percent of AAMGA's members also belong to NAPSLO while 48 percent of NAPSLO's members belong to AAMGA. http://bit.ly/2mBJzNr

The new association already has a website to keep members informed of the status of the merger: www.wsia.org

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