Amongst its activities, Lombard is a player in what is called private placement life insurance (PPLI) a wealth management solutions channel.

London-headquartered Utmost Group has received regulatory approval to complete its acquisition of Lombard International Assurance Holdings Sarl, a business based in Luxembourg. 

The acquisition is expected to complete on 30 December 2024, Utmost said in a statement yesterday. The business has been bought from funds run by US-listed Blackstone Group.

When the deal is completed, Lombard International Assurance will become a part of Utmost International, the international life assurance business of Utmost Group. 

Lombard is a player in what is called private placement life insurance (PPLI) a wealth management solutions channel that this news service has covered for more than a decade (see this article back in 2011). Lombard, which describes itself as a “European leader of Luxembourg unit-linked life insurance,” offers cross-border wealth, estate, and succession planning for affluent, HNW and UHNW individuals.

On a combined basis, as at 30 June 2024, Utmost International would have had more than £100 billion ($127 billion) of assets under administration and around 210,000 policyholders. 

Lombard International will continue to operate from Luxembourg with its existing suite of products. These will be distributed under the Utmost brand by a single combined global salesforce in parallel with Utmost’s existing products.

Fitch Ratings has confirmed an expected IFS rating of 'A+' for Lombard International, subject to the completion of the acquisition. This rating is in line with Utmost Group's other rated insurance entities, the group said.