Chesnara PLC (LSE:CSN) has completed the £260 million acquisition of HSBC Life (UK) Limited, marking its fifteenth and largest deal to date.
The transaction, first announced in July 2025, significantly increases Chesnara’s scale in the UK life insurance market.
Steve Murray, chief executive, said: “We are delighted to have completed the acquisition of HSBC Life UK, our fifteenth and largest acquisition to date, and to formally welcome its customers and colleagues to Chesnara.”
He added: “Bringing HSBC Life UK into Chesnara increases our scale in the UK market, supports long-term cash generation and, as previously announced, enhances the group's dividend.
"We also remain optimistic about our ability to undertake further value-accretive acquisitions as opportunities arise, consistent with our strategy.”
Chesnara confirmed there has been no material change to the terms of the transaction since its initial announcement.