Company
Chesnara PLC
LON:CSN
Chesnara PLC is an established life and pensions consolidator in the UK and Europe The group comprises closed consolidation businesses in the UK and the Netherlands. In addition, it has a separate Dutch new business operation and a separate open business in Sweden.
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Chesnara adds to its board
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Chesnara to take over Conservatrix in January as regulatory approval comes through
Conservatrix, which was declared bankrupt almost two years ago, adds around 70,000 new policies
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Chesnara on sound financial footing as it boosts divi for 18th consecutive year
The group, which completed two key purchases in the period and is in the process of working on a third, was sitting on a balance of £155.4mln, which it estimates will provide it with £100mln of acquisition currency
Chesnara strengthens leadership team with new appointments
The leadership changes "will help ensure we are well placed to pursue the strategic opportunities we continue to see, including the delivery of future acquisitions", said CEO Steve Murray
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Chesnara's third acquisition of the year provides boost to Dutch business
The group has bought the 70,000-strong insurance portfolio of Conservatrix
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Chesnara looks undervalued, according to Hardman Research
“In our opinion, the discount to Economic Value looks wider than it should, and the yield appears high for a dividend that is both secure and growing,” Hardman concluded.
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Chesnara gets regulatory go-ahead for Sanlam Life & Pensions UK acquisition
The acquisition will add around £2.9bn of assets under administration and roughly 80,000 policies to Chesnara’s portfolio
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Chesnara increases dividend for 17th year in a row
"We have clear line of sight to multiple sources of cash generation and have a variety of growth value levers at our disposal"
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Chesnara adds two new directors to board following debt issuance
Appointments increase size of board from five to six, following £200mln debt issuance
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Chesnara delighted with investor interest as it prices £200mln debt issue
"The notes represent an important milestone for Chesnara in enhancing our group's financing capabilities," said chief executive Steve Murray.
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Chesnara appoints Sam Perowne to executive committee
This will help exploit one of the company’s three strategic pillars – acquiring life and pensions businesses
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Chesnara goes Dutch again with acquisition of savings and annuities provider
Robein Leven is strongly aligned with Chesnara's strategic objective of acquiring and integrating life and pension companies and books of business within its target and value range
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Chesnara to acquire Sanlam Life & Pensions UK business
The additional £5mln or so of cash generation a year that SLP will provide (under steady-state conditions) will support Chesnara’s progressive dividend strategy
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Chesnara steps up acquisition hunt as equity markets bounce back
"We continue to actively seek out and engage on opportunities in our core markets"
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Chesnara says CEO will retire at the end of the year
The life and pensions consolidator has found a successor to John Deane
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Chesnara to complete Dutch acquisition
"This marks Chesnara's fifth successful acquisition in the Netherlands," CEO John Deane commented
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Chesnara raises dividend, says has weathered COVID-19 storm
The post dividend group solvency ratio has risen slightly to 156%
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Chesnara raises dividend as cash position stays steady during pandemic
The company’s solvency ratio also rose to 166% compared to 155% at the end of September.
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Chesnara hails financial strength as it raises dividend
"The solvency of the group has held up well which has enabled us to continue our dividend strategy"
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Chesnara does its sums and bumps up the dividend by 3%
Despite the challenging circumstances, Chesnara's operations at its head office and its divisions, continue to function effectively
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Chesnara names former Standard Life Aberdeen CFO Luke Savage as new chairman
Savage will also serve as chairman of the company's nominations and governance committee, and as a member of its remuneration committee.
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Proactive snapshot: Chesnara, Bango, Ariana Resources
A look at some of the top stories from the Proactive newswire on Friday
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Chesnara expands its Netherlands business with earnings enhancing £25mln deal
It is acquiring life products and savings plans from the Belgian-owned Argenta Bank-en Verzekeringsgroep
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Chesnara confident about dividends going forward
Chesana also the balance sheet strength to make further acquisitions both in the Netherlands and UK,
Chesnara is 'flexible and lower-risk' than closed-life peers says Peel Hunt
The broker upgraded the life insurance consolidator but said it needs to find "new synergies in the funds it manages" or to carry out new deals
ReAssure to float in London as part of spin-out from parent Swiss Re
The closed-book specialist is the sixth largest life insurance group in the UK by total assets
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Chesnara expects market unrest to lead to more acquisition opportunities
Economic value fell 13% to £626mln due to falling bond and equity prices and a stronger pound
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Proactive news snapshot: Midatech Pharma, Curzon Energy, Ariana Resources …
A glance at some of the day's highlights from the Proactive Investors newswire
Investments and investor services
FTSE 100 closes in positive territory as MPs vote down May's deal again
Footsie closed at 7,279, up nearly 45 points on the day
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CVS Group and GAN headline quiet Friday in London
Both CVS and GAN updated the market back in January, although the statements were polar opposites in terms of guidance
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Brexit date arrives but March 29 to be a damp squib although parliamentary vote might not be
Aside from the latest instalment of the Brexit saga, the week ahead will bring updates from housebuilder Bellway, tobacco firm Imperial Brands, and soft drinks group Fevertree
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Proactive news snapshot: ValiRx, Avation, Sativa Investments …
A glance at some of the day's highlights from the Proactive Investors newswire
Investments and investor services
Urals Energy tumbles again as war of words with Sergey Kononov intensifies
A look at the day's major movers, including redT, Rockfire, Oilex, SPDI and Orosur Mining
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Proactive news snapshot: Greatland Gold, European Metals, Chesnara, BigDish...
A glance at some of the day's highlights from the Proactive Investors newswire
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Just Eat chairman Mike Evans leaves Chesnara as director to oversee Prudential split
Jane Dale will succeed Mike Evans as senior independent director at Chesnara
FTSE 100 closes in red; Royal Mail delivers share plunge
The UK blue-chip index closed down around 14 points at 7,495 as the stronger pound weighed
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Chesnara just keeps rollin' along
The group manages £7.8bn of funds: £2.8bn in the UK; £2.9bn in Sweden; and £2.1bn in the Netherlands.
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Proactive news snapshot: Solo Oil, Metminco, Challenger Acquisitions …
A glance at some of the day's highlights from the Proactive Investors newswire
Trinity Exploration & Production rises as it spuds first well in six-well programme
A look at some of the biggest risers and fallers in London on Thursday
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Chesnara continues to play the long game
All divisions made positive contributions, with the exception of Scildon (formerly L&G Nederland), where operational gains were offset by the impact of losses on Italian bond holdings
FTSE 100 journey in the red continues as it closes down around 47 points
In the currency markets, the pound is down 30% against the US dollar, while the pound is up 0.26% against the Euro..
Investments and investor services
WH Smith, Hunting and Hays to be in Thursday’s spotlight
Retailer WH Smith heads the highlights for Thursday's schedule.
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Week ahead: Restaurant Group, Hays, Petrofac, WH Smith, Hunting, Bunzl...
The week ahead will see interims from the Restaurant Group, Petrofac, Hunting and Bunzl along with full year results from Hays and a trading update from WH Smith
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FCA to take no action against Lloyds Banking Group's Scottish Widows unit after long-running probe
The regulator had been investigating Scottish Widows and five other insurers since March 2016 after conducting a review of their treatment of longstanding customers
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Proactive news snapshot: C4X Discovery, Hurricane Energy, Alba Mineral Resources …
A glance at some of the day's highlights from the Proactive Investors newswire
Builders and building materials
Elektron Technology shares rise as subsidiary inks distribution agreement
A look at some of the biggest risers and fallers in London on Thursday
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Chesnara's acquisition of L&G Dutch insurance arm boosts 2017 results
Chesnara said it has made good progress on integrating Legal and General Nederland and the benefits were slightly ahead of expectations
Investments and investor services
FTSE 100 closes higher ending an "ugly quarter"; GKN top riser after Melrose succeeds in bid
Turnaround group Melrose received valid acceptances for its offer for GKN representing around 52.43% of the voting rights
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Time's almost up for GKN shareholders to vote on Melrose hostile takeover bid
The day ahead includes the outcome of Melrose's hostile takeover bid for GKN and trading updates from SSE and RPC
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Utilities dominate week ahead with updates from Pennon, United Utilities and SSE
The week ahead includes trading updates from Pennon, United Utilities and SSE, along with interims from DFS Furniture and full year results from Moss Bros and AG Barr
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Proactive news snapshot: Tertiary Minerals, Challenger Acquisitions, Futura Medical …
A glance at some of the day's highlights from the Proactive Investors newswire
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Chesnara rallies after "highly effective " Capital Markets Day
"The near 10% fall in share price in recent weeks due, we believe, to the stock dropping out of an index (!) appears to us to be highly unwarranted," said house broker, Shore Capital
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Proactive news snapshot: Stratex International, Chariot Oil & Gas, ValiRx …
A glance at some of the day's highlights from the Proactive Investors newswire