Discussions underway over possible sale of Lombard

Life assurer Resolution Limited has confirmed that it is currently in discussions regarding the possible sale of its Lombard division.

The confirmation came in a press statement released in response to speculation regarding Lombard International Assurance SA and Insurance Development Holdings AG.

Resolution stressed that there was “no certainty these discussions will result in a transaction being agreed.”

A further announcement will be made as and when appropriate, the statement read.

Wort.lu/en contacted Lombard spokesman Conor Sweeney, who  was unable to give information in addition to the official statement.

Lombard is a member of the Friends Life group that was acquired by Resolution Limited in 2009.

Employing more than 350 people at its Luxembourg headquarters, the company provides unit-linked life assurance offering wealth planning solutions to high and ultra high net worth individuals.

It also has local compliant solutions for residents of the United Kingdom, Germany, Italy, France, Spain, Belgium, Sweden, Finland and Luxembourg. Tailored solutions are crafted with partners for clients in Turkey, Latin America and Asia.