Integration of Philadelphia Financial and Lombard International Assurance
September 29, 2015
Philadelphia Financial to be re-branded Lombard International
Lombard International today announced the formal launch of its global life insurance-based wealth management business, following the successful integration of US-headquartered Philadelphia Financial with Luxembourg-headquartered Lombard International Assurance.
The new business – under the re-launched global brand of Lombard International – constitutes a leading global wealth solutions provider, serving the high and ultra-high net worth markets.
Funds managed by Blackstone completed the acquisition of Philadelphia Financial in July 2015, having acquired Lombard International Assurance in October 2014. As of September 2015, the combined business has USD 75 billion assets under administration.
Lombard International is an industry leader in providing multi-jurisdictional wealth planning solutions through its partner networks across the United States, Europe and Latin America, issuing life insurance policies and annuities from the United States, Luxembourg, Guernsey and Bermuda.
“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,” says John Hillman, Executive Chairman of Lombard International.
“By successfully integrating our suite of solutions across platforms,” continues Hillman, “Lombard International is uniquely positioned to address the complex needs of today’s global family.”
About Lombard International:
The new global group, branded as Lombard International, was announced to the market in September 2015. With head offices located in Luxembourg and Philadelphia, a combined global presence enables Lombard International to serve clients’ complex needs on a global basis while being sensitive to local cultures and attitudes.
As of September 2015, global assets under administration are USD 75 billion and global staff number over 500, including over 60 technical experts specializing in over 20 jurisdictions.
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