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Now That Makes Sense…

Every now and then I'll read about a business development – a new product, a strategic alliance, an innovative distribution method – and say to myself, "now THAT makes sense."

That was exactly my reaction to this week's announcement that Catholic Knights and Catholic Family Life Insurance were joining forces through a merger that was seemingly made in heaven.

These two organizations have long and storied histories as separate entitles and now have the opportunity to create an even greater legacy as a united society.  They share so many characteristics – a strong common bond, progressive leadership, unique member benefits, and a commitment to meaningful community service, to name just a few – that a merger just seemed…natural.

The best thing about the groundbreaking deal is that it was done for strategic reasons, rather than at the point of a regulator's bayonet.  Both sides brought something to the table and the combined resources of the merged society will enable it to enhance its financial position, expand its marketing efforts, improve its member benefits, and better serve both its current and prospective members.  That's downright exciting.

Mergers – even ones between societies as well-matched as these – are never easy.  Blending the two organizations' cultures into one will take some time and there are bound to be some bumps in the road.  But I have no doubt that the leadership demonstrated by Bill O'Toole of Catholic Knights and Dan Lloyd of Catholic Family in making the merger happen will be more than enough to guide the new society to even greater heights.

So hats off to Bill, Dan and the executive teams of both societies.  You've set a great example for others to follow.  And we here at NFCA stand ready to help you in whatever way we can. 

Want to learn more about the how's and why's of the merger?  You can go to either society’s Web site and get the details.  I'd love to hear what you think of this development.  Post your comments below.

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