Lombard International Assurance has launched a global life insurance-based wealth management business called Lombard International that serves the high and ultra-high net worth markets.
The launch follows the integration of Luxembourg-headquartered Lombard International Assurance with US-headquartered Philadelphia Financial.
Funds managed by Blackstone completed the acquisition of Philadelphia Financial in July 2015, having acquired Lombard International Assurance in October 2014.
Lombard International provides multi-jurisdictional wealth planning solutions through its partner networks across Europe, the United States and Latin America, issuing life insurance policies and annuities from Luxembourg, the United States, Guernsey and Bermuda.
John Hillman, executive chairman of Lombard International said business’s ambitions for regional and global growth have been greatly reinforced by Blackstone.
He added: "By successfully integrating our suite of international solutions across platforms, Lombard International is uniquely positioned to address the complex needs of today’s global family."
Lombard International’s head offices are located in Luxembourg and Philadelphia.
As of September 2015, Lombard International’s global assets under administration are $ 75bn (66.8bn) and global staff number over 500, including over 60 technical experts specialising in over 20 jurisdictions.