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Assets Under Administration Rise At Luxembourg-Based Lombard International Assurance
Tom Burroughes
17 February 2015
, the Luxembourg-headquartered firm providing services such as private placement life insurance to wealthy clients, has reported assets under administration at the end of 2014 of €27.2 billion, a rise of 12 per cent from the year before. New business premium income rose to more than €3.2 billion, up by 37 per cent on the year before. The 24-year-old firm, which has opened a branch in Milan and developed new markets in Portugal and Norway, described its provisional 2014 results as strong. Blackstone, the global private equity house, purchased Lombard last year. Lombard operates in a number of markets, including those in Asia.