The process is being led by Emma Hill, the head of brand and sponsorship at Royal London, with support from AAR.
The brief includes all traditional, digital, consumer and business-to-business activity.
Hill said: "The past 12 months have seen a major increase in brand recognition across all our key markets but we have ambition to take the Royal London brand even further. We are seeking a media agency to support us in this."
VCCP holds Royal London’s advertising account. Its sibling agency VCCP Media handled the media business last year, when the brand was relaunched.
Activity last year included "we’re so yesterday", a campaign promoting Royal London’s traditional values that spanned TV, digital, outdoor and press. The company also sponsored the One-Day Series cricket highlights on Channel 5.