LIBRA Insurance Partners and Insurance Designers of America Announce Merger

 LIBRA Insurance Partners and Insurance Designers of America, LLC (IDA) announce the merger of the two organizations, creating the largest independently owned life insurance marketing organization (IMO) in the United States. The combined company will operate under the LIBRA Insurance Partners (LIBRA) brand.

Bill Shelow, CEO and president of LIBRA Insurance Partners, and J. Craig Collins, president and executive director of Insurance Designers of America, along with the respective Board of Directors and more than 110 combined affiliated partner agencies, have approved entering a merger agreement. The merger will take effect on January 1, 2023, upon completing the transition process.

“We recognize that during a time of mass BGA transactions and industry-wide consolidations, only those with the ability to scale, innovate and evolve will remain relevant and thrive throughout consistently-changing market conditions,” said William (Bill) Shelow, CLU^®, ChFC^®, CPCU^®, LLIF, president and CEO of LIBRA. “This merger uniquely positions LIBRA as a leader in the IMO community, both in size and influence, and through our combined teams and collective value-driven service models, proprietary tools, and leading resources, positions us as the premier partner for agencies, carriers, financial advisors and consumers now and into the future. LIBRA is the home for any BGA that values independence.”

The firm retained the services of Paradigm Partners International, a third-party research firm specializing in the insurance landscape, to assess LIBRA’s market position post-merger. The study concluded that the combined LIBRA team is the largest independently owned life IMO in America by way of gross annual production.

“We’ve worked alongside LIBRA for many years. I have tremendous respect for the leadership team and its agency partners,” said J. Craig Collins, president and executive director of IDA, “Our firms are aligned in values and commitment and with many synergistic and complementary offerings, we can now leverage those strengths to offer even more robust benefits for our partner firms, their distribution sources, and insurance company partners.”

Insurance Designers of America will merge into the LIBRA brand, adding as many as 50 agency partnerships to the LIBRA Insurance Partners community. IDA’s team, distribution network, technology offerings and extensive advisor resources will be available to all LIBRA-affiliated partners post-integration. J. Craig Collins will continue in a leadership position as executive vice president and chief relations officer, overseeing carrier partnerships and agency services. The united firm will continue its core commitment to providing unmatched value to partner agencies, independent insurance producers, brokers and financial institutions with life, annuity, and linked benefit insurance solutions.

LIBRA’s combined resources will offer agency partners greater operating efficiencies, enhanced technological capabilities, and expanded distribution opportunities.