A statement issued by the Association of British Insurers and the British Bankers' Association announced that the governing bodies of the two associations have agreed to commission a joint study by consultants into a possible merger.
Both organisations have been debating for some time the pros and cons of forming a body which represents a wider span of the financial services sector. They see strong merit in principle in such a development, but wish to examine the practicalities in much more detail before making any recommendation to their members.
