The American Insurance Association and the Property Casualty Insurers Association of America have engaged in merger talks that would create a new trade association combining both of their memberships, Best’s Insurance News & Analysis reported. “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,” the organizations said in a joint statement. A merged trade association would speak for approximately 60 percent of the U.S. property/casualty market, the groups said. The statement gave no timeline on when a merger could be finalized.