11 December 2024 - Utmost Group plc has received all necessary regulatory approvals to finalize its acquisition of Lombard International Assurance Holdings Sarl, a move that solidifies its position as a global leader in insurance-based wealth solutions. The transaction will close on 30 December 2024.
Strategic Growth
The acquisition unites two prominent players in the industry, combining Lombard International's expertise in serving high-net-worth individuals (HNWIs) with Utmost’s extensive geographic reach and product offering. Together, the combined entity will manage over £100 billion in assets for approximately 210,000 policyholders.
Paul Thompson, CEO of Utmost Group, emphasized the significance of this development:
"I am delighted that we are now in a position to complete this transformational acquisition, which represents a major strategic milestone for the Group. This acquisition enhances our geographic footprint, client offering, and local market knowledge, strengthening the platform with which to execute on our strategy."
Lombard International will maintain its operations in Luxembourg, offering its current products under the Utmost brand. A unified salesforce will ensure seamless distribution, leveraging the strengths of both businesses to better serve clients and partners.
Utmost Group’s financial resilience remains robust, supported by an 'A+' IFS rating for Lombard International. Post-acquisition, the Group will continue to focus on operational efficiency and growth while maintaining a strong capital position.
About Lombard International
A leader in life assurance solutions, Lombard International has been a trusted partner for wealth managers and HNWIs across Europe, Asia, and Latin America. Known for its bespoke offerings and Luxembourg expertise, it complements Utmost’s ambition to deliver innovative and client-centric solutions.
About Utmost International
Utmost International is a leading provider of insurance-based wealth solutions. Utmost International operates across the UK, Europe, Latin America, Asia and the Middle East. Its solutions are largely based on unit-linked insurance policies. Utmost International manages £59.1bn of assets, of which £57bn are held on behalf of unit-linked policyholders at HY 2024.
For more details, visit www.utmostgroup.com