The two largest workers' compensation insurance advocacy groups in the U.S. plan to merge, the groups announced Wednesday.

The American Insurance Association (AIA) and the Property Casualty Insurers Association (PCI) have been active as lobbyists and advocacy groups on workers' compensation legislation and regulation around the country for years. 

“The respective boards of AIA and PCI believe there is great benefit in a more unified policy and advocacy voice for property-casualty insurers, given the unprecedented pace of change in the world and the resulting potential opportunities and challenges," said a joint statement from Anthony J. Kuczinski, CEO of Munich Reinsurance America and chairman of the board of directors of AIA, and from Kurt F. Bock, CEO of Country Financial and chair of PCI.

“A merged trade association would speak for approximately 60% of the U.S. property-casualty market, representing the full breadth of the industry and creating an even more influential voice," the statement said.

The executives did not say when the merger would be finalized, only that "a great deal of work" remains to be done.