SOURCE: Lombard International Assurance S.A.

Lombard International Assurance S.A.

September 29, 2015 09:17 ET

Blackstone Fund Creates Leading Global Wealth Business

Integration of Lombard International Assurance and Philadelphia Financial Forms Industry Leader in Global Wealth Management Solutions

LUXEMBOURG--(Marketwired - September 29, 2015) - Lombard International Assurance today announced the formal launch of its global life insurance-based wealth management business, following the successful integration of Luxembourg-headquartered Lombard International Assurance with US-headquartered Philadelphia Financial.

The new business -- under the re-launched global brand of Lombard International -- constitutes a leading global wealth solutions provider, serving the high and ultra-high net worth markets.

Funds managed by Blackstone completed the acquisition of Philadelphia Financial in July 2015, having acquired Lombard International Assurance in October 2014. As of September 2015, the combined business has USD 75 billion [Euros 68 billion] assets under administration.

Lombard International is an industry leader in providing multi-jurisdictional wealth planning solutions through its partner networks across Europe, the United States and Latin America, issuing life insurance policies and annuities from Luxembourg, the United States, Guernsey and Bermuda.

"Our ambitions for regional and global growth have been greatly reinforced by Blackstone, helping the re- branded business achieve our goal of providing best-in-class, holistic wealth planning solutions for clients across the globe," says John Hillman, Executive Chairman of Lombard International.

"By successfully integrating our suite of international solutions across platforms," continues Hillman. "Lombard International is uniquely positioned to address the complex needs of today's global family."

About Lombard International:

The new global group, branded as Lombard International, was announced to the 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.

As of September 2015, global assets under administration are USD 75 billion [Euros 68 billion] and global staff number over 500, including over 60 technical experts specialising in over 20 jurisdictions.

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