Utmost Group has entered into an settlement to accumulate Lombard Worldwide, topic to regulatory and different approvals.
The deal consists of Lombard Worldwide’s main European enterprise. Additionally, Lombard Worldwide will grow to be part of Utmost Worldwide, the worldwide life assurance enterprise of Utmost Group.
As well as, the acquisition will verify Utmost Worldwide as a prime participant in worldwide life assurance.
Moreover, it would add £43bn of belongings underneath administration and over 20,000 insurance policies to Utmost Worldwide.
Response to the Utmost take care of Lombard
Paul Thompson, CEO of Utmost Group, stated: “The acquisition of Lombard Worldwide marks an thrilling milestone in Utmost’s journey, fortifying our European place and establishing us as a number one world supplier of insurance-based wealth options. The mixed energy of the merged Utmost Worldwide and Lombard Worldwide provides added scale to the Group. It should allow us to raised serve our expanded worldwide consumer base and distribution companions, utilising deep market insights, robust technical experience and a broader portfolio of merchandise.
“The addition of Lombard Worldwide is very complementary to Utmost’s earlier transaction – the acquisition of Quilter Worldwide accomplished in November 2021 – which strengthened our presence within the UK and Asia. Lombard Worldwide’s established, longstanding networks in Europe will improve Utmost’s world credentials and allow us to raised serve our shoppers and companions, delivering long-term worth for our folks and shareholders.
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“I stay up for welcoming Lombard Worldwide’s folks, shoppers and companions to Utmost and to working carefully with the Lombard Worldwide management on finishing this transaction.”
Stuart Parkinson, CEO of Lombard Worldwide Group, added: “This acquisition signifies a brand new and thrilling chapter for Lombard Worldwide, ushering in a interval of expanded alternatives for our shoppers, companions and workers. The mixed
Group will ship unparalleled service and experience to assist the evolving wealth planning wants of our shoppers.
“The strategic match of Lombard Worldwide and Utmost, with aligned give attention to development and consumer centricity, will allow the mixed entity to proceed on its development trajectory and seize the alternatives that lie forward.”
Florent Albert, managing director of Lombard Worldwide Assurance continued: “I’m delighted that Lombard Worldwide is to hitch Utmost. Utmost have established themselves as a pacesetter within the insurance-based wealth sector, and I’m assured that they are going to be wonderful stewards for Lombard Worldwide’s shoppers, companions and workers.
“I stay up for working carefully with Paul, Ian and the remainder of the Utmost management workforce to embed Lombard Worldwide into Utmost Worldwide.”
