The Australian and New Zealand Institute of Insurance and Finance (ANZIFF) merger would see the creation of the world's largest financial services association, with over 105,000 members across 170 countries.
"There has never been a better time for one single global professional association, one strong voice to influence regulators and government, and to secure... the confidence of the public in the professionalism of the industry worldwide," ANZIIF chief executive Joan Fitzpatrick said.
The merger will bring a host of benefits to members, such as global recognition of skills and knowledge through a set of designations established in more than 170 countries, Fitzpatrick said.
"Through a combined strength and focus on educational content, we will be in the position to establish international educational benchmarks that reflect global best practice, while ensuring our educational services reflect local market conditions and regulations," she said.
Likely to be titled the Chartered Institute of Insurance and Financial Services (CIIFS), members will get the chance to ask questions regarding the potential merger of ANZIIF and UK body, the Chartered Insurance Institute, in an online forum next week.
Members will vote on the proposed merger in the first quarter of 2009, and if approved, it will take effect within 3 months.
Last week, ANZIIF took out education service provider of the year at the 12th Asia Insurance Industry Awards, with Fitzpatrick awarded 2008 Asia Insurance personality of the year.
