"I’m delighted that we’re now in a position to complete this transformational acquisition, which represents a major strategic milestone for the group."
- Paul Thompson, CEO of Utmost Group
Utmost Group has said the acquisition of Lombard International Assurance Holdings Sarl (Lombard International) is expected to complete on the 30th December 2024. It will become a part of Utmost International – Utmost Group’s Life Insurance business.
This acquisition will strengthen the group’s customer offering by combining existing distribution partner relationships and complementary product suites. On a combined basis (as of the 30th June 2024), Utmost International would have had over £100bn of assets under administration and approx. 210k policyholders.
Lombard International will continue to operate from Luxembourg with its existing suite of products. These will be distributed under the Utmost brand by a single combined global salesforce in parallel with Utmost’s existing products.
“I’m delighted that we’re now in a position to complete this transformational acquisition, which represents a major strategic milestone for the group. This acquisition enhances our geographic footprint, customer offering, and market knowledge,” explained Paul Thompson, CEO of Utmost Group.
“We have bold strategic ambitions for our business, and I’m confident that we’re well placed to serve our customers’ long-term financial needs and deliver value to our people & shareholders. I’m excited by our future prospects and look forward to welcoming Lombard International’s employees, customers, and partners to Utmost Group,” he concluded.
