Chesnara

Last updated

Chesnara
Company type Public
LSE:  CSN
IndustryLife assurance and pensions
Founded2004
Headquarters Preston, Lancashire, United Kingdom
Key people
Luke Savage (Chairman)
Steve Murray (CEO)
RevenueIncrease2.svg £165.5 million (2024) [1]
Increase2.svg £31.9 million (2024) [1]
Decrease2.svg £3.9 million (2024) [1]
Website www.chesnara.co.uk

Chesnara plc is a life assurance and pensions business, based in Preston, Lancashire, United Kingdom. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. [2]

Contents

History

The company was established when the life assurance business of Countrywide was demerged in May 2004. [3] Graham Kettleborough was appointed chief executive at that time and went on to lead the company through the acquisition of a series of other portfolios and businesses. [4] These included City of Westminster Assurance for £70 million in January 2007 [5] and the pensions provider, Save & Prosper Group, for £63.5 million in November 2010. [6]

Following the resignation of Kettleborough in December 2014, John Deane was appointed chief executive. [7] The company acquired the Dutch insurance business of Legal & General for £137 million in April 2017. [8] [9]

After Deane stepped down in May 2021, Steve Murray became chief executive. [10] In November 2021, the company bought Robein Leven, a provider of savings accounts, mortgages and annuities, operating in the Netherlands. [11]

The company acquired the UK bonds and legacy pensions business of Canada Life in December 2024. [12] [13] Then, in July 2025, the company announced that it had signed an agreement to acquire the UK life assurance business of HSBC Life for £260 million, with completion expected in early 2026. [14] [15] [16]

References

  1. 1 2 3 "Annual Results 2024" (PDF). Chesnara plc. Retrieved 13 August 2025.
  2. "Primary Health Properties (UK): Combination with Assura (UK) Changes in FTSE UK Index Series". FTSE Russell. Retrieved 13 August 2025.
  3. "Countrywide Assured set to complete demerger and listing". Insurance Times. 20 May 2004. Retrieved 13 August 2025.
  4. "Ten years and out for Chesnara chief". The Times. 4 December 2014. Retrieved 13 August 2025.
  5. "IL&P sells UK life arm for €70m". RTÉ. 26 January 2007. Retrieved 13 August 2025.
  6. "Chesnara agrees £63.5m Save & Prosper deal". Insider Media. 29 November 2010. Retrieved 13 August 2025.
  7. "Chesnara Confirms John Deane To Be CEO On January 1, 2015". RTT News. 1 January 2015. Retrieved 13 August 2025.
  8. "Legal & General completes £137 million sale of Dutch business". Insurance Business Magazine. 7 April 2017. Retrieved 13 August 2025.
  9. "Countrywide owner Chesnara in talks to buy L&G's Dutch arm". Sky News. 21 November 2016. Retrieved 13 August 2025.
  10. "Chesnara hires Royal London's Steve Murray as new CEO". Wealth DFM. 12 May 2021. Retrieved 13 August 2025.
  11. "Chesnara to acquire Robein Leven from Monument Re". Reinsurance News. 25 November 2021. Retrieved 13 August 2025.
  12. "Chesnara acquires portfolio with £1.5bn AUM from Canada Life UK". Reinsurance News. 24 December 2024. Retrieved 13 August 2025.
  13. "Canada Life transfers onshore bonds to Chesnara". FT Adviser. 24 December 2024. Retrieved 13 August 2025.
  14. "Chesnara agrees £260m HSBC Life acquisition". Insurance Age. 3 July 2025. Retrieved 13 August 2025.
  15. "Chesnara secures £140mn to support HSBC Life acquisition". FT Adviser. 23 July 2025. Retrieved 13 August 2025.
  16. "HSBC sells UK life arm to Chesnara". International Adviser. 4 July 2025. Retrieved 13 August 2025.