REG - Chesnara PLC - Acquisition Completions

ChesnaraAnnouncement

28/04/2022 07:00

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RNS Number : 5771J  Chesnara PLC  28 April 2022

 LEI Number: 213800VFRMBRTSZ3SJ06

 

28 April 2022

 

CHESNARA plc
("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:

 

Investor Enquiries

Sam Perowne

Head of Strategic Development & Investor Relations

Chesnara plc

E - sam.perowne@chesnara.co.uk (mailto:sam.perowne@chesnara.co.uk)

 

Media Enquiries

Roddy Watt

Director, Capital Markets

FWD

T - 020 7280 0651 / 07714 770 493

E - roddy.watt@fwdconsulting.co.uk (mailto:roddy.watt@fwdconsulting.co.uk)

 

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
(http://www.chesnara.co.uk/) ).

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