If a merger were to take place between two life offices both having the Raising Standards Quality mark, they could retain their kitemark according to proposals published by the scheme this week.
But if a life office were to take over or be bought by a rival without the quality mark, the other life office would have to meet certain key standards, the raising standards team says.
The Raising Standards team are looking to clarify what would happen if two life companies were to merge. The consultation closes on September 30.
Project director Stuart Tragheim says: “Raising Standards was designed to be dynamic and evolve over time to respond to the changing market conditions. If we see further consolidation, we must be absolutely clear on how the scheme applies when two brands merge.”