Wealth planning solutions provider Lombard International’s assets under administration (AUA) totalled €41.5bn at the end of December 2018.

The performance was affected by market headwinds, the company said.

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New business premiums of €5.1bn were in line with last year’s figure.

During the year, the business bolstered its presence in Asia, Europe, Latin America and the US.

The European expansion was supported by its takeover of a portfolio of life assurance policies from HSBC Life Assurance (Malta).

The deal, first announced in November 2017, added €500m of assets under administration to Lombard’s books.

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Besides, Lombard teamed up with family office Stonehage Fleming.

The tie-up is aimed at providing Stonehage Fleming customers access to the unit-linked insurance solutions of Lombard.

The wealth solutions provider also focused on the scaling of its US institutional unit as well as bagged early stage opportunities in Asia last year.

Commenting on the performance, Lombard International group CEO John Hillman said: “2018 was another successful year for Lombard International as we continued the expansion of our global capabilities, and investment in innovation and technology.

“Despite the difficult geopolitical and macro-economic environment across the globe, we delivered a resilient performance that stands us in good stead to embrace the opportunities that lie ahead in 2019.”