Lombard Int’l hits high with €4.5bn in new business sales

Added 11th April 2017

Global high net worth life provider Lombard International saw its new business premiums rise to a record €4.5bn (£3.85bn, $4.78bn) over the last year, on the back of cited geographical expansion and strategic acquisitions.

Lombard Int’l hits high with €4.5bn in new business sales

Organic growth saw the Luxembourg-headquartered insurer setting up in key offices including Brussels, Paris, Bermuda, Miami, New York, Hong Kong and Singapore.

The acquisition of Zurich Eurolife’s Private Banking Solutions business in Luxembourg was also highlighted in the company’s full year results for the year to 31 December.

Total assets under administration grew 8% from €72bn in 2015 to €77.5bn as at 31 Dec 2016.

Assets advised specifically for high net worth clients grew 14% from £35.5bn to €40.5bn, while corporate administration assets totalled €37bn, up from 2% from €36.5bn in the prior year.

The company said it also invested significantly in an online digital servicing platform in Europe, called ‘Connect’ and an online investment platform in the US.

John Hillman, executive chairman of Lombard International, said the group had achieved “impressive geographical and financial growth in 2016”.

“Our investment into expanding our management team, to boosting product capabilities and to launching new technology platforms has meant that the business is now even more closely aligned to our clients’ interests.”

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Mark Battersby

Editor, International Adviser

International Adviser

Mark Battersby is editor of International Adviser. He is also programme director for International Adviser events in strategic expat locations around the world, and its flagship FundLinks conference in London. Mark joined Last Word Media in February 2012, having previously worked at Citywire, Interactive Investor International, and FT Business.

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