Chesnara PLC Acquisition (5169V)
15 April 2021 - 4:00PM
UK Regulatory
TIDMCSN
RNS Number : 5169V
Chesnara PLC
15 April 2021
CHESNARA plc
("Chesnara" or "the Company")
15 April 2021
LEI Number: 213800VFRMBRTSZ3SJ06
REGULATORY APPROVAL
Chesnara plc is pleased to confirm that all remaining conditions
precedent to the completion of the proposed acquisition of the
Dutch insurance portfolio of Brand New Day Levensverzekeringen N.V.
have now been fulfilled and the conversion of policies onto the
systems of Chesnara's Waard Leven N.V. has been completed.
John Deane noted: "This marks Chesnara's fifth successful
acquisition in the Netherlands since our initial purchase of the
Waard Group in 2015. The acquisition of the Brand New Day portfolio
was agreed at the end of 2020 and the completion of the deal along
with the migration of the data is testament to the excellent
processes in Waard that ensure we deliver a smooth transition for
the benefit of our customers, the regulator and other
stakeholders".
For further information, please contact:
Roddy Watt
Director, Capital Markets
FWD
Forward thinking communications
T - 020 7280 0651
E - roddy.watt@fwdconsulting.co.uk
Notes to Editors
Chesnara is a life and pensions company listed on the London
Stock Exchange. It administers over one million policies and
operates as Countrywide Assured in the UK, as The Waard Group and
Scildon in the Netherlands, and as Movestic in Sweden.
Following a three pillar strategy, Chesnara's primary
responsibility is the efficient administration of its customers'
life and savings policies, ensuring good customer outcomes and
providing a secure and compliant environment to protect
policyholder interests. It also adds value by writing profitable
new business in Sweden and the Netherlands and by undertaking
value-adding acquisitions of either companies or portfolios.
Consistent delivery of the Company strategy has enabled Chesnara
to increase its dividend for 16 years in succession.
Further details are available on the Company's website (
www.chesnara.co.uk ).
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END
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