Lombard International Life Ltd, part of Lombard International Group, has joined the Bermuda International Long Term Insurers and Reinsurers group.

The industry body said Lombard International Life Ltd becomes the 62nd company to join Biltir, which represents the island’s insurance, reinsurance and servicing companies who provide life and annuity products.

Biltir said Lombard International Group is a leading provider of cross-border insurance-based wealth, estate and succession planning solutions for upper affluent, high net worth individuals, families and institutions.

The group serves more than 20 markets across Asia, Europe, Latin America and the United States with assets under administration at $65.1 billion as of 30 June.

Jennifer Titterton, chief operating officer (Bermuda), Lombard International, said: “We are excited to join the Bermuda International Long Term Insurers and Reinsurers Association.

“Biltir plays an important role in the Bermuda financial services ecosystem and we look forward to working alongside member companies in supporting the industry.”

Sylvia Oliveira, chairwoman of Biltir, said: “I am delighted to welcome Lombard International Life to Biltir.

“We look forward to working with Lombard and benefiting from their 30 years of expertise in private banking, asset management, wealth planning and insurance.

“Biltir is pleased to support Lombard and the rest of Bermuda’s thriving life sector in managing complex regulatory developments.”

The primary focus of Biltir is to act as an advocate for Bermuda’s life and annuity industry for public policy that supports the industry marketplace, including regulatory requirements, other Bermuda Monetary Authority or Bermuda Government issues, and tax matters with various jurisdictions.