Lombard International Group reports robust 2020 Financial Results
Lombard International Group, a global leader in insurance-based wealth, estate and succession planning solutions for high net worth (HNW) individuals, families and institutions has announced its financial results for 2020.
Lombard International Group delivered a robust financial performance in 2020, against the backdrop of the global pandemic which caused significant market volatility and disruption. The results demonstrate the strength of the Group’s business model, balance sheet, its market leading expertise and the relevance of its value proposition in supporting the ever-evolving wealth planning needs of upper affluent, HNW and UHNW clients and institutions across all the geographies the Group serves.
The results are further testament to the Group’s ability to maintain its best-in-class service through the adoption of enhanced ways of working and implementing change quickly to ensure seamless business continuity.
In 2020, the Group delivered EUR 4.3 billion of new premium income and EUR 49.3 billion AUA, a record high for the Group.
Commenting on the results, Stuart Parkinson, Chief Executive Officer of Lombard International Group, said: “The past year has been one like no other. Despite the unprecedented environment, we have continued to support our partners and clients across the globe with tailored wealth structuring and planning solutions, digitally-enabled services and our industry-leading expertise to help them
navigate these challenging times.
“Our solid 2020 financial results are testament to these endeavours and mark another positive year for Lombard International Group. I am particularly proud of what our teams have achieved in such unparalleled circumstances. As we progress through 2021, which marks our 30th anniversary, our strategy is focused on the continued and sustainable growth of Lombard International Group. Across both our Private Client Business and Global Institutional Solutions Practice, our strategic intent is to further bolster our technology investments, strengthen and leverage our global footprint and connectivity of the Group and continue building differentiated product offerings, whilst also broadening our strategic partnerships, ensuring that we remain best in class across all the geographies in which we serve.”
Florent Albert, Group Chief Financial Officer and Managing Director Europe, commented: “Our robust 2020 financial performance is a confirmation of the continued positive growth in our Group’s AUA, with solid new business generation and a positive outlook. This is particularly meaningful amidst the unpredictable global economy in which we have been operating and it further affirms the strength of our balance sheet, relevance of our value proposition and long-term growth strategy, as well as our ability to navigate an increasingly complex and uncertain world. These results echo our ‘Excellent’ financial strength ratings just recently reaffirmed by AM Best for the third consecutive year, further underlining the resilience of our business model powered by our growth engines in Asia, Europe, Latin America and the US. We have had an excellent start to 2021, building great momentum and I’m confident in our ability to deliver another strong year.”
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