Lombard International: 2017 Financial Results*

PHILADELPHIA, March 28, 2018 /PRNewswire/ --

• Record growth in new business premiums written in 2017, up at €5.0 billion
  
• Assets under administration grew 4.8% to €74.3 billion
  
• Continued expansion in Asia, Europe, Latin America and the United States
  
• Ongoing investment in technology platforms and senior management hires

Lombard International, a global leader in wealth structuring solutions for high net worth individuals, families and institutions, today announced its Financial Results for 2017. The record results demonstrate the company's strength of brand, expertise, value proposition and delivery of its growth objectives.  Lombard International has continued to expand its global presence and enhance its wealth solutions, technology capabilities and services to drive higher sustained growth over the longer term.

• New Business Premium: Total new business premium written was strong at €5.0 billion, which is a new record in the company's history.

• Assets under Administration (AUA):  Total AUA grew to €74.3 billion (as of 31 Dec 2017), an increase of €3.4 billion or 4.8% from €70.9 billion in the prior year:

Commenting on the results, John Hillman, Executive Chairman of Lombard International, said: "2017 was an outstanding year for Lombard International, with record growth in new business and a robust increase in assets under administration. These results reflect our continued leadership position in the market, our investment in new initiatives, and our expanding global footprint.

In an environment of rapid globalisation, digitalisation and ever changing regulation, there has never been a greater need for our solutions. We remain committed to listening to our clients and partners, and leveraging our unparalleled expertise to develop the bespoke, innovative and flexible solutions required to effectively manage our clients' wealth now, and in the future. "

Global Footprint  

Lombard International increased its global connectivity through continued international expansion.

• Asia: Lombard International accelerated its growth in Asia by expanding its footprint in Hong Kong and Singapore.
• Europe: Lombard International Assurance grew its European business for the 26^th consecutive year, serving over fifteen core countries. The business also built upon its existing asset base in Europe by signing an agreement to acquire a portfolio of life insurance policies from HSBC Life Assurance (Malta) Ltd.
• Latin America: Lombard International's joint venture with Akaan in Mexico is on course to launch in 2018.
• US: Lombard International strengthened its value proposition by redefining the way its supports the market by segmenting its business model into three distinct channels: independent agents, financial intermediaries, and institutional investment managers.  

Digital Innovation 

In 2017, Lombard International launched a number of new features for its Connect platform in Europe, which enables Partners greater ability to oversee and manage policies securely online. These enhancements are in addition to Connect's existing capabilities, including up-to-date policy valuations and 24/7 support via any device.

In the US, Lombard International launched an online platform to give partners live access to portfolio information, performance and educational material, readily available from any device.  The Company also launched an online enrollment portal which provides clients and partners with the ability to apply online for a number of Lombard International insurance products, providing a simple path from start to finish.

Senior Hires  

Lombard International continues to invest in talent to sustain its unrivalled expertise and service across multiple markets and functions. In 2017 the business appointed Paul Upchurch has joined as Chief Operating Officer for Europe, Sandra Locke as Global Director of Human Resources, and Monica Risam as General Counsel for Europe.

* New business and assets under administration are presented at constant currency rates as of 31 Dec 2017

About Lombard International 

Lombard International 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 €74.3bn as of 31 December 2017. Our global team of approximately 600 includes more than 60 technical experts 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 $434 billion in assets under management as at December 31, 2017.

SOURCE Lombard International Assurance