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.