Utmost Group announces the proposed acquisition of Lombard International

This press release is also available in French.

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

Utmost Group plc (“Utmost Group” or “the Group”) has entered into an agreement to acquire Lombard International Assurance Holdings Sarl (“the Acquisition”), subject to regulatory and other approvals. The Acquisition 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 acquisition of Lombard International will confirm Utmost International as a leading global provider of international life assurance and strengthens the Group’s position in key markets throughout Europe. It brings together two large-scale businesses with closely aligned operating models and a shared commitment to serving our clients’ long-term financial needs. By combining the existing distribution partner relationships, deep local market knowledge and a complementary product suite, the Acquisition provides a strong platform for the Group to serve its clients and execute on its strategic ambitions.

Commenting on the Acquisition, Paul Thompson, CEO of Utmost Group said:

“The acquisition of Lombard International marks an exciting milestone in Utmost’s journey, fortifying our European position and establishing us as a leading global provider of insurance-based wealth solutions. The combined strength of the merged Utmost International and Lombard International gives 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.

“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.

“I look forward to welcoming Lombard International’s people, clients and partners to Utmost and to working closely with the Lombard International leadership on completing this transaction.”

Read the full press release here