Company
Chesnara PLC
LON:CSN
Chesnara PLC is an established life and pensions consolidator in the UK and Europe The group comprises closed consolidation businesses in the UK and the Netherlands. In addition, it has a separate Dutch new business operation and a separate open business in Sweden.
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Chesnara to take over Conservatrix in January as regulatory approval comes through
Conservatrix, which was declared bankrupt almost two years ago, adds around 70,000 new policies
Chesnara on sound financial footing as it boosts divi for 18th consecutive year
The group, which completed two key purchases in the period and is in the process of working on a third, was sitting on a balance of £155.4mln, which it estimates will provide it with £100mln of acquisition currency
Chesnara strengthens leadership team with new appointments
The leadership changes "will help ensure we are well placed to pursue the strategic opportunities we continue to see, including the delivery of future acquisitions", said CEO Steve Murray
Chesnara's third acquisition of the year provides boost to Dutch business
The group has bought the 70,000-strong insurance portfolio of Conservatrix
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Chesnara looks undervalued, according to Hardman Research
“In our opinion, the discount to Economic Value looks wider than it should, and the yield appears high for a dividend that is both secure and growing,” Hardman concluded.
Chesnara gets regulatory go-ahead for Sanlam Life & Pensions UK acquisition
The acquisition will add around £2.9bn of assets under administration and roughly 80,000 policies to Chesnara’s portfolio
Chesnara increases dividend for 17th year in a row
"We have clear line of sight to multiple sources of cash generation and have a variety of growth value levers at our disposal"
Chesnara adds two new directors to board following debt issuance
Appointments increase size of board from five to six, following £200mln debt issuance
Chesnara delighted with investor interest as it prices £200mln debt issue
"The notes represent an important milestone for Chesnara in enhancing our group's financing capabilities," said chief executive Steve Murray.
Chesnara appoints Sam Perowne to executive committee
This will help exploit one of the company’s three strategic pillars – acquiring life and pensions businesses
Chesnara goes Dutch again with acquisition of savings and annuities provider
Robein Leven is strongly aligned with Chesnara's strategic objective of acquiring and integrating life and pension companies and books of business within its target and value range
Chesnara to acquire Sanlam Life & Pensions UK business
The additional £5mln or so of cash generation a year that SLP will provide (under steady-state conditions) will support Chesnara’s progressive dividend strategy