AM Best has reaffirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) of Lombard International Assurance S.A. (Luxembourg).
Concurrently, AM Best has also reaffirmed the Long-Term ICR of "bbb-" of LIA Holdings Limited (The Group’s parent company).
AM Best has assessed Lombard International’s consolidated balance sheet strength as ‘very strong’, also assessing the Group’s liability profile to be ‘low risk’.
Lombard International Group, a leading European provider of cross-border wealth, estate and succession planning solutions, with over 30 years’ experience, has had its Luxembourg based insurance carrier (Lombard International Assurance S.A.) and parent company’s Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of "a-" reaffirmed by AM Best.
The ratings are testament to Lombard International Group’s established position and strong momentum in the unit linked life assurance market across Europe. They also reflect the Group's balance sheet strength, which AM Best assesses as ‘very strong’. The company’s risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR), is at the strongest level and benefits from the group's lower risk liability structure.
As reaffirmed by AM Best, the Group’s financial strength is underpinned by ‘a steady inflow of fee revenue, driven by solid new business generation and excellent persistency of the existing portfolio’.
Commenting on the ratings, Stuart Parkinson, Group Chief Executive said: “I’m delighted that AM Best has reaffirmed Lombard International Group’s financial strength ratings. This reiterates the value of our offerings and our ability to support our partners and their clients in navigating an increasingly complex and uncertain world. We have exceptional in-house talent and expertise to manage the demands of near constant change to market dynamics, an ever-greater emphasis on wealth longevity and the increasing social responsibility of our clients.
Florent Albert, Group Chief Financial Officer and Managing Director Europe, continued: “It’s pleasing to see that AM Best has reaffirmed Lombard International Group’s financial strength ratings. We are financially strong, well positioned and fully equipped to deliver value to our partners and clients. Driven by our market leading expertise, the calibre of our team and supported by continued investment in innovation and technology, we remain fully committed to our core purpose of providing expert solutions to protect, preserve and pass on wealth to future generations.”