For the third year running, AM Best has reaffirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" of the domestic and international operating entities of Lombard International Group.
Concurrently, AM Best has also reaffirmed the Long-Term ICR of "bbb-" of LIA Holdings Ltd (The Group’s parent company). The outlook of these ratings is stable.
AM Best has categorized Lombard International Group’s balance sheet strength as ‘very strong’ and expects the Group to continue to experience positive growth trends, driven by a steady inflow of fee revenue, a solid new business generation and the excellent persistency of the existing portfolio.
Lombard International Group, a global market leading provider of wealth, estate and succession planning solutions for high net worth individuals, families and institutions, has had its domestic and international operating entities’ Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of "a-" reaffirmed by AM Best, for the third year running.
The ratings are testament to Lombard International Group’s strong position in the private placement / unit linked life and annuity markets across Asia, Europe, Latin America and the US. They also reflect Lombard International Group's balance sheet strength, which AM Best categorizes, again, as very strong, as well as its low risk profile and right level of enterprise risk management. The company’s risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), is at the strongest level and benefits from the group's lower risk liability structure.
As highlighted by AM Best, Lombard International Group continues to produce stable cash flows and to demonstrate positive growth trends in its assets under administration, driven by a steady inflow of fee revenue, solid new business generation and the excellent persistency of the existing portfolio.
Commenting on the results, Stuart Parkinson, Group Chief Executive said: “I’m delighted that AM Best has reaffirmed Lombard International Group’s financial strength excellent ratings and acknowledged our robust business model and very strong balance sheet. It is particularly meaningful in an unpredictable global economy as it further reiterates the relevance of our propositions and long term strategy, as well as our ability to navigate an increasingly complex and uncertain world. Lombard International Group has a strong 30-year track record of market leadership and these ratings recognise our continued investment to further enhance our business, as we continue to innovate and expand our global capabilities, especially in the international wealth hubs across Europe, Asia and the US.
“We are well positioned and fully equipped to deliver continued growth and value to our partners and clients, committed to our core purpose of providing expert solutions to protect, preserve and pass on wealth to the next generation.”
Florent Albert, Group Chief Financial Officer and Managing Director Europe, continued: “Following an unprecedented year, AM Best ratings have reaffirmed Lombard International Group’s financial strength and resilience. They are further evidence of continued confidence in Lombard International Group's long term vision and ability to deliver sustainable and profitable growth.
“We continue to build strong momentum, driven by our market leading expertise, the quality of our team, the level of service that we deliver to our clients and partners wherever they are based across the world, and supported by continued investment in innovation and technology.”
About AM Best
AM Best is a global credit rating agency, news publisher and data provider specializing in the insurance industry. The company does business in more than 100 countries. Headquartered in Oldwick, NJ, AM Best has offices in cities around the world, including London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com
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