La Mondiale Europartner, the Luxembourg-listed international division of French insurer AGR2 La Mondiale, plans to launch a wealth management operation for the high net worth market in the UK.

A spokesperson for the firm told this publication that the firm did not wish to reveal more details about the new business before its formal launch in May.

The company is currently a partner of many private banks in France and last year it attracted more than €1 billion (around $1.3 billion) in new business inflows, the firm said in a statement.

The French parent company has about €50 billion in assets under management.