Chesnara PLC (LSE:CSN) reported a 26% increase in cash generation to £37 million in the first half of 2025.
The European life and pensions consolidator, which this month joined the FTSE 250, told investors that its solvency coverage ratio had risen to 207% from 203%, as it also declared a 3% increase in the interim dividend to 7.7p per share.
In July, Chesnara sealed its acquisition of HSBC Life (UK), supported by a £140 million rights issue and a £150 million bond issue. The deal is expected to generate more than £800 million in incremental lifetime cash generation and add about £4 billion in assets under administration.
“Chesnara delivered strong financial results in the first half of 2025," Chesnara chief executive Steve Murray said.
"We have made significant progress against our strategy, announcing the acquisition of HSBC Life (UK). This is a transformational deal, supporting a planned one-year step-up in the dividend and reinforcing sustainable long-term growth”.
Murray added: "Looking ahead, we are strongly positioned with the financial firepower and track record to execute on our active pipeline of opportunities."