The Institutes, I.I.I. close to finalizing affiliation

The Institutes said Thursday it plans to finalize its affiliation with the New York-based Insurance Information Institute on Nov. 16.

Under the deal, the I.I.I. will retain its offices in New York and Arlington, Virginia, the Malvern, Pennsylvania-based provider of education and research in risk management and property/casualty insurance said in a statement.

The I.I.I. will also “maintain staff throughout the country,” the statement said. The I.I.I. did not respond to requests for further comment.

I.I.I. President and CEO Sean Kevelighan has led the organization since August 2016. The organization employed 29 staff in 2018, its annual tax returns show.

Business Insurance reported in June that the Institutes was in talks to acquire the I.I.I. and the affiliation was later confirmed in a joint announcement by both organizations.

The deal follows a series of acquisitions by the Institutes, which offers numerous educational courses and professional development resources for the insurance and risk management sector, including the Chartered Property Casualty Underwriter and Associate in Risk Management designation programs. It serves about 100,000 students a year, and its CPCU Society has more than 20,000 members.

The I.I.I.’s membership includes more than 60 insurers, though its membership levels have declined since 2016 amid deteriorating finances.