Chesnara PLC (LSE:CSN) said it has entered into a long-term strategic partnership with fintech SS&C, which will provide policy administration services to Chesnara UK to support its acquisition ambitions.
A statement from the insurer said SS&C’s servicing of its books of business will be delivered via its “strategic life and pensions operating model”.
SS&C’s scale, expertise and knowledge will be key in supporting Chesnara’s growth as it seeks further UK acquisitions, it said.
“We believe the acquisition opportunities across our target markets remain strong, including in the UK, and this partnership will help support Chesnara in executing such transactions on attractive terms for both vendors and our shareholders,” said Steve Murray, group chief executive.
“Together, we are well positioned to support Chesnara in pursuing their ambitious growth agenda in UK life and pensions,” added Nick Wright, head of global investor and distribution solutions at SS&C.
Chesnara also expects the partnership to enhance its migration and integration capabilities while delivering cost-efficient policy administration.