Resolution, the life assurer, is in discussions over a possible disposal of its Lombard division.
The life assurer said it noted recent speculation in the press over a possible disposal, but insisted there was no certainty these discussions would result in a sale. The group said it would make a further announcement when appropriate.
Lombard was part of the Friends Life group (formerly Friends Provident group), which was acquired by Resolution in 2009. Resolution has said in the past that it is committed to Lombard, describing it as “a unique business with great prospects”.
Lombard is a pan-European provider of unit-linked life assurance that provides wealth planning solutions to high and ultra high-net worth individuals. It does not market directly to its end clients, but collaborates with an international distribution network of private banks, wealth managers and independent financial advisers.
Lombard is based in Luxembourg, where it ranks as the leading life assurance company.
Lombard has local compliant solutions for residents of the UK, Germany, Italy, France, Spain, Belgium, Sweden, Finland and Luxembourg. Tailored solutions are crafted with partners for clients in Turkey, Latin America and Asia.
The Resolution Life group was formed in 2004 to provide a vehicle for life funds that have been closed to new business but have liabilities extending many years into the future.
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