Lombard International has launched its global life insurance-based wealth management business following the integration of US-based Philadelphia Financial with Luxembourg-based Lombard International Assurance.
The new business – under the re-launched global brand of Lombard International – will constitute a global wealth solutions provider, serving the high and ultra-high net worth markets, the company said in a statement.
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Funds managed by Blackstone completed the acquisition of Philadelphia Financial in July 2015, having acquired Lombard International Assurance in October 2014.
The combined business had $75bn assets under administration as of September 2015.
Lombard International provides multi-jurisdictional wealth planning solutions through its partner networks across the US, Europe and Latin America.
Lombard International executive chairman John Hillman said: "Our ambitions for regional and global growth have been greatly reinforced by Blackstone, helping the re-branded business achieve our goal of providing best-in-class, holistic wealth planning solutions for clients across the globe.
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By GlobalData"By successfully integrating our suite of solutions across platforms, Lombard International is uniquely positioned to address the complex needs of today’s global family."
