Hardman & Co Research on Chesnara plc (CSN): Nice little acquisition

Hardman & Co Research Hardman & Co Research on Chesnara plc (CSN): Nice little acquisition 23-May-2023 / 13:05 GMT/BST The issuer is solely responsible for the content of this announcement. Hardman & Co Research on Chesnara plc (CSN): Nice little acquisition Chesnara has announced its first acquisition of 2023. It is buying the onshore protection business from Canada Life’s UK business. This consists of 47,000 term assurance and critical illness policies. Chesnara is paying £9m for the policies, and expects the Economic Value to be £16m – so this is a bit smaller than some of its more recent deals. The uplift of £7m increases Economic Value by ca.1.4%. Cash generation will be improved by ca.£16m over the next five years. This benefit is relatively front-end-loaded; so there will be a smaller cashflow benefit beyond the five years. This will have an almost neutral effect on the Solvency II ratio. Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/nice-little-acquisition/ If you are interested in meeting the company, you can register your interest by clicking on the above link To contact us: Hardman & Co 1 Frederick’s Place London EC2R 8AE www.hardmanandco.com Follow us on Twitter @HardmanandCo Contact: Brian Moretta [phone] [e-mail]   Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report. Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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