E-commerce promoter Wise is merging its future development activity with US counterpart Acord, clearing the way for a globally owned insurance standards association.

Acord president Gregory Maciog said: “We are confident of the benefits that the integration will bring. In combination we bring greater momentum and focus to the standards process.”

Wise chairman Rob White-Cooper said the agreement reflected the general industry trend towards globalisation, convergence and consolidation.

The agreement has been approved by both boards and will take effect from July 1.

BSS 2024/25

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