Chesnara plc

Chesnara plc: Consolidating Life and Pensions in the UK and Europe

Chesnara plc is a leading life and pensions consolidator that operates in the UK and Europe. The company has a proven track record of acquiring, integrating, and managing closed life insurance books, as well as providing pension administration services to its customers. With over 1 million policyholders across its subsidiaries, Chesnara is committed to delivering long-term value for its stakeholders.

Founded in 2004, Chesnara has grown rapidly through a series of strategic acquisitions. The company's portfolio includes several well-known brands such as Countrywide Assured plc, Movestic Livförsäkringar AB, Scildon NV, and Legal & General Nederland Levensverzekering Maatschappij NV. These subsidiaries operate independently under their own brand names but benefit from Chesnara's expertise in managing closed life books.

Chesnara's business model is based on acquiring closed life insurance books that are no longer actively marketed by their original providers. These policies typically have low levels of new business but generate steady cash flows from existing policyholders' premiums. By consolidating these books under one roof, Chesnara can achieve economies of scale and reduce costs while maintaining high levels of customer service.

In addition to acquiring closed life insurance books, Chesnara also provides pension administration services through its subsidiary City Facilities Management Holdings (UK) Ltd (CFM). CFM offers a range of services including scheme administration, actuarial consulting, investment management advice and trustee secretarial support to defined benefit pension schemes.

Chesnara prides itself on being a responsible corporate citizen that takes environmental sustainability seriously. The company has implemented several initiatives aimed at reducing its carbon footprint such as using renewable energy sources for electricity generation at some sites.

The company's financial performance has been impressive over the years with consistent growth in earnings and dividends. In 2020, Chesnara reported a profit before tax of £111.5 million and paid a dividend of 20.7p per share to its shareholders.

Chesnara's success can be attributed to its experienced management team, disciplined approach to acquisitions, and focus on delivering value for its stakeholders. The company has a clear strategy for growth that involves expanding its presence in the UK and Europe through further acquisitions while maintaining high levels of customer service.

In conclusion, Chesnara plc is an established life and pensions consolidator that has built a strong reputation for acquiring closed life insurance books and providing pension administration services. With over 1 million policyholders across its subsidiaries, the company is well-positioned to deliver long-term value for its stakeholders. Its commitment to environmental sustainability and impressive financial performance make it an attractive investment opportunity for those looking for exposure to the UK and European life insurance markets.