Utmost Group to acquire Lombard International

Written by Michael Griffiths

05/07/2024

Utmost Group has announced the proposed acquisition of European life assurer, Lombard International.

The acquisition, which remains subject to regulatory and other approvals, encompasses Lombard International’s leading European business.

Lombard International will become a part of Utmost International, the international life assurance business of Utmost Group.

The move brings together two large-scale insurance-based wealth solutions businesses, strengthening Utmost’s position in European markets and providing a stronger platform to serve its clients’ long-term financial needs.

Utmost CEO, Paul Thompson, said that the “combined strength” of the merged Utmost International and Lombard International can give “added scale to the group”.

“It will enable us to better serve our expanded international client base and distribution partners, utilising deep market insights, strong technical expertise and a broader portfolio of products,” Thompson commented.

“The addition of Lombard International is highly complementary to Utmost’s previous transaction – the acquisition of Quilter International completed in November 2021 - which strengthened our presence in the UK and Asia.

“Lombard International’s established, long-standing networks in Europe will enhance Utmost’s global credentials and enable us to better serve our clients and partners, delivering long-term value for our people and shareholders.”

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