The firm offers wealth solutions and says its services are even more valuable amid current political and related uncertainties.

Lombard International, the Luxembourg/Philadelphia-based organization owned by funds of US-based Blackstone, has reported new business premiums in 2018 of €5.1 billion ($5.8 billion), which the firm described as "strong".

Total assets under administration grew to €41.5 billion, the firm, which was launched in 2015 and provides offerings such as private placement life insurance, said in a statement yesterday.

In recent years this publication has examined how insurance-based products have become more visibly part of the wealth management toolbox. With pressures on trusts and other wealth structures, and global political uncertainties rising, firms such as Lombard International see its offerings meeting a need.

"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," John Hillman, group CEO, said.

"We understand the concerns that our clients and partners feel in the face of growing geopolitical uncertainty. We recognise how these issues impact wealth creation and financial futures. It is during such uncertain and challenging times that the solutions and services we provide become even more critical," he said.

Last year the firm built on its existing asset base in Europe by completing the acquisition of a portfolio of life insurance policies from HSBC Life Assurance (Malta) Ltd. It also added to its distribution footprint, such as in the family office channel, by partnering with Stonehage Fleming.

In the US, it has pushed ahead with an organic growth strategy, such as increasing its institutional business. In Asia, the firm said that it had "secured excellent early stage opportunities, and is seeing great interest from across the region".

The group also said that it had launched its "Idea Lab", a project "designed to enhance the intellectual capital and culture of innovation, driving new products, new markets and growth initiatives across the group".