LEI Number: 213800VFRMBRTSZ3SJ06
28 April 2022
("Chesnara" or "the Company")
COMPLETION OF ACQUISITIONS
Chesnara plc ("Chesnara" or the "Company") today announces the completion of the acquisitions of both Sanlam Life & Pensions UK Limited ("SLP") and Robein Leven N.V. ("Robein Leven").
SLP is a specialist provider of insurance and long-term savings products in the UK, with approximately £2.9 billion of assets under administration and 80,000 policies. The acquisition of SLP was initially announced in September 2021 for a total consideration of £39 million.
Robein Leven is a specialist provider of traditional and linked savings products, mortgages and annuities in the Netherlands. The acquisition of Robein Leven was initially announced in November 2021 for a total consideration of £13 million.
Steve Murray, Chief Executive Officer of Chesnara, commented: "I am delighted to welcome the customers and employees of SLP and Robein Leven to the group. Undertaking value-adding acquisitions is a key pillar of our strategy and Chesnara has now completed a total of 11 transactions over its history. Looking forward, the M&A market continues to be buoyant and we remain optimistic about our ability to undertake further acquisitions."
For further information, please contact:
Head of Strategic Development & Investor Relations
Director, Capital Markets
T - 020 7280 0651 / 07714 770 493
Notes to Editors
Chesnara is a European life and pensions consolidator listed on the London Stock Exchange. It administers approximately one million policies and operates as Countrywide Assured and Sanlam Life & Pensions 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 17 years in succession.
Further details are available on the Company's website (www.chesnara.co.uk).