Hardman & Co Research: Fourth acquisition in two years

Summary by AI BETAClose X

Chesnara announced its fourth acquisition in two years, buying 18,000 variable annuity policies from MetLife UK that add £1.7bn of AuA and lift pro forma AuA to over £24bn. The transaction carries expected lifetime cashflows of ca. £90m, with roughly half (about £45m) expected to be released in the first five years, requires no significant consideration payable, and increases SII Own Funds and the Contractual Service Margin by ca. £45m post-tax while having a broadly neutral impact on the Solvency II ratio.

Disclaimer*

Companies

Chesnara (CSN)
UK 100

Latest directors dealings