Mutual insurer Royal London has rebranded the Responsible Lending equity release business it acquired earlier in the year as Royal London Equity Release.

The rebrand follows the completion of the company's acquisition of the later life lending and product specialists Responsible Life and Responsible Lending at the end of January.

The addition of later life lending to the firm's business, which includes protection, long-term savings and asset management products and services, allows it to add support for advisers and customers looking for a range of funding options in retirement, the firm said.

An ageing population, with many who find themselves with property wealth but insufficient pension savings to support their desired standard of living, creates a real need for later life lending options, according to Susie Logan, group chief marketing officer at Royal London.

She said: “We believe housing wealth will increasingly become a key component of holistic Financial Planning and the move to a single brand will increase our visibility in the market.

“While the brand is changing, the same teams will continue to deliver the service, providing continuity to customers and advisers.”

Chris Flowers, intermediary sales director at Royal London Equity Release, said: "We have been providing the Royal London Equity Release product range to later life lending customers since April 2023. This development sees our branding unify with Royal London, making it easier for customers and advisers to identify us alongside our products."