PHILADELPHIA and LUXEMBOURG, March 20, 2019 /PRNewswire/ --
-- Strong performance delivered, with EUR5.1 billion new business premiums written in 2018 -- Assets under administration grew to EUR41.5 billion -- Continued global expansion across Asia, Europe, Latin America and the United States -- Sustained investment in innovation and technology
Lombard International, a global leader in wealth planning solutions for high net worth individuals, families and institutions, today announces its Financial Results for 2018. These results reflect the strength of the company's value proposition, and are testament to the expertise and agility of the Lombard International global team. They highlight the company's commitment to continually enhancing its wealth solutions and service capabilities, to drive sustained growth over the long term.
-- New Business Premiums were strong at EUR5.1 billion, in line with a record 2017 performance, against a backdrop of significant geopolitical and economic uncertainty. -- Assets under Administration grew to EUR41.5 billion (as of 31 December 2018), despite headwinds from global markets.
Commenting on the results, John Hillman, Group Chief Executive of Lombard International, said: "2018 was another successful year for Lombard International as we continued the expansion of our global capabilities, and investment in innovation and technology. Despite the difficult geopolitical and macro-economic environment across the globe, we delivered a resilient performance that stands us in good stead to embrace the opportunities that lie ahead in 2019.
"We understand the concerns that our clients and partners feel in the face of growing geopolitical uncertainty. We recognize how these issues impact wealth creation and financial futures. It is during such uncertain and challenging times that the solutions and services we provide become even more critical. We help our clients and their advisors navigate challenging market conditions, to help ensure their wealth is protected, portable and can be passed on to future generations in a sustainable manner."
Over the last 12 months, the business further expanded its worldwide operations, building a truly unique footprint and enabling an integrated global perspective to best serve clients and their advisors, no matter where they reside.
-- Europe: In 2018, the business built on its existing asset base in Europe by completing the acquisition of a portfolio of life insurance policies from HSBC Life Assurance (Malta) Ltd. and further strengthened its distribution reach, particularly in the family office channel, by forging a strategic partnership with Stonehage Fleming, one of the leading independently-owned global family offices and the largest in Europe, the Middle East and Africa. -- US: Lombard International has continued its organic growth strategy focused on the significant scaling of its institutional business, including building out and actively marketing its investment options platform. -- Asia: Lombard International continues to expand its business offering in Asia. In 2018, the business secured excellent early stage opportunities, and is seeing great interest from across the region.
Lombard International also announces the launch of its Idea Lab. This initiative is designed to enhance the intellectual capital and culture of innovation, driving new products, new markets and growth initiatives across the Group. This commitment to innovation enables the business to sustain its market leading position and to continue offering clients and partners best-in-class solutions and service.
About Lombard International Assurance
Lombard International Assurance is a leading life insurance-based wealth solutions provider with over 25 years' experience. We have the strength and expertise to provide wealth structuring solutions using unit-linked life insurance to ultra-high net worth individuals, their families and institutions around the globe.
The global group, Lombard International, launched to market in September 2015. With head offices in Luxembourg and Philadelphia, and serving over 20 markets across the United States, Europe, Asia and Latin America, we are able to provide multi-jurisdictional wealth planning solutions on a global basis with a deep understanding of local cultures and attitudes.
Global assets under administration are in excess of EUR41.5 billion as of 31 December 2018. Our global team of over 500 includes more than 60 technical experts and over 100 client services professionals specializing in multiple jurisdictions.
Funds managed by Blackstone own Lombard International. Blackstone Group L.P. is one of the world's leading investment firms with $472 billion in assets under management as at December 31, 2018.
For further information about Lombard International visit: www.lombardinternational.com [http://www.lombardinternational.com/]
CONTACT: Simren Priestley