Lombard International Assurance, a global leader in wealth structuring solutions for high net worth clients, today announces the launch of the Wealth Passport – UK Hybrid Policy®; a new wealth planning solution designed to meet the needs of US taxpayers and prospective US residents currently residing in the UK.
The Wealth Passport – UK Hybrid Policy® provides the long-established benefits of a UK life assurance policy together with those of a US deferred variable annuity contract, including simplified reporting, investment flexibility and tax-deferral during the insurance term.
In addition to providing a practical solution to the issues faced by US clients, the Wealth Passport – UK Hybrid Policy® also caters to UK residents who, for business or personal reasons, plan to take up residence in the US for a period of time.
John Hillman, Executive Chairman of Lombard International, said: “US clients outside the US face a range of complex wealth management issues. Lombard International Assurance is perfectly positioned to offer a unique product in this space, which is backed by our expertise and experience in both jurisdictions.”
Axel Hörger, CEO Europe, added: “We are excited to launch this solution which, against a backdrop of growing regulatory complexity, is tailored to meet the specific planning needs of US expats and prospective US residents currently in the UK.”
Lombard International Assurance recently introduced a solution for the German market called the Wealth Passport – German Hybrid Solution®, which combines a German life insurance contract with the US deferred annuity contract. The solution is available both for US citizens who temporarily live in Germany and for German citizens who intend to temporarily move to the US.
About Lombard International Assurance
Lombard International Assurance is a leading global life insurance-based wealth solutions provider, combining the strength and expertise of two specialist life insurance companies with over 20 years’ experience and market leadership in their respective fields. Lombard International provides wealth structuring solutions using private placement life insurance and annuity products to high net worth individuals, their families and institutions around the globe.
The global group, branded as Lombard International, launched to 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. The firm 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.
Global assets under administration are in excess of USD 75 billion with a global staff number of over 500, including more than 60 technical experts specializing in 20+ jurisdictions.
Funds managed by Blackstone own Lombard International. Blackstone is one of the world’s leading investment firms with assets under management of over USD 330 billion.