New premiums reached the historic level of 5.7 billion euros in 2019.
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Lombard International Group, one of the world leaders in wealth and estate structuring solutions through unit-linked life insurance for wealthy individuals, their families and institutions, today announced its results. financial for 2019. Despite considerable geopolitical and economic uncertainties around the world, the group posted record performance.
In 2019, the group recorded a solid financial performance:
- A record amount of new premiums issued amounting to 5.7 billion euros, up 25% compared to 2018, supported by an increase in sales in the United States and in Europe;
- Assets under management reached a record low of 48.4 billion euros (as of December 31, 2019), an increase of 17% compared to 2018, driven by net inflows and a positive performance.
Talking about the results, John Hillman, Executive Chairman of Lombard International, said: “2019 was a record year for Lombard International Group. We continued to strengthen our resources globally, particularly in international wealth centers in Switzerland, London, New York, Hong Kong and Singapore. These epicenters are the focal points for the capital flows of wealthy people and remain essential for the growth of our activities. We are renewing our commitment to develop and invest in the best talent across our different markets and to deepen our relationships with our main strategic partners worldwide, in order to strengthen our leading position.
As the group continues to grow and evolve, I am pleased to welcome Stuart Parkinson, who will join us on April 1, 2020 as Group Chief Executive Officer. With 27 years of international experience in banking and financial services, Stuart has considerable expertise in building and managing diverse teams as well as in coordinating and pooling resources from group to group. worldwide in order to best meet customer needs. He will bring real dynamism and new ideas to allow us to expand our presence on an international scale. “
Global presence
Over the past twelve months, Lombard International Group has continued to expand its business worldwide.
- In Europe, new premiums grew 24% year-on-year. LIA Wealth Advisers Ltd., a UK entity approved by the FCA, was formed to ensure the continuity of our activities regardless of the Brexit negotiations. LIA Patrimoine was also launched to serve the growing network of partners and intermediaries in France.
- In the United States, the amount of new premiums written grew by 27% year-on-year. The group has also invested to improve its partnership model, taking advantage of its unique technical expertise and the flexibility of its operational capabilities.
- Emerging markets offer an important growth opportunity for the Group, as it continues to develop its brand presence in Asia. Sourcing of new contracts from Latin America also posted substantial growth in 2019.
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