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- Strong performance delivered €4.6 billion of new business premium in Europe
- European Assets Under Administration (AUA) at €46.3 billion (as at 31 December 2022)
- Strong and resilient Solvency ratio
- Continued investment in technology further strengthening operational excellence
- Results mark the second-best year on record in terms of new business premium inflows
- Reinforces Lombard International’s market leading position, supported by its in-house talent and expertise
Lombard International Group, a European leader in insurance-based wealth, estate and succession planning solutions for Upper Affluent, High Net Worth (HNW) individuals, families and institutions, today announced its financial results for 2022.
In Europe, Lombard International Assurance, delivered €4.6 billion of new business premium with AuA of €46.3 billion (as at 31 December 2022), marking the second-best year on record in terms of new business premium inflows. This strong performance was achieved with noteworthy contributions from a number of core markets including France, Italy, Sweden, Portugal, and the UK.
Notwithstanding the challenging global macroeconomic environment, increasing inflationary pressure and market volatility, the Company delivered a robust 2022 financial performance, building on its record year in 2021. Its international wealth, estate, and succession planning solutions for Upper Affluent, HNW and UHNW families remains market leading, delivered by its expert team across multiple geographies.
The excellence of the business and its market leading solutions continued to be recognised by the industry, securing ‘Most Effective Investment Service Offering’ at the 2022 edition of the Private Banker International Global Wealth Awards. Most recently, the business was awarded ‘Best Financial Services Group Europe’ for the third consecutive year at the 2023 Global Banking & Finance Review awards, along with winning ‘Decade of Excellence Financial Services Group Europe’.
Stuart Parkinson, Group Chief Executive Officer of Lombard International Group, commented: “The Company continues to build excellent momentum and presence in its sector. Crucially, our strong new business performance further highlights the success and importance of our long-term strategy. By continuing to invest in building a sustainable business while also forging strong partnerships that support our current and future clients across the geographies we serve, the business is primed for continued growth.
“In 2023, we remain focused on continuing to develop and grow our business. We will also continue to invest in upgrading our processes and systems, enhancing our digital infrastructure and related offerings. In a challenging macro-economic environment, partners and clients will continue to look for efficient wealth and succession planning solutions; and we will be there to support them.”
Florent Albert, Managing Director Europe, added: “Our partners and clients will continue to need wealth planning solutions that are comprehensive, agile, and expertly implemented. Our unparalleled market knowledge, combined with in-depth local expertise, enable the creation of leading wealth insurance-based solutions, regardless of the evolving economic and political environment.
“As a leader in our sector, our objective of delivering against our core purpose remains steadfast. We look to 2023 and beyond with enthusiasm, as the business is fully equipped and energised to seize the market opportunities ahead and deliver service excellence to current and future partners and clients.”