X Chesnara plc: management transactions · United Kingdom · RNS (LSE)

About X Chesnara plc

Chesnara plc is a UK-based life insurance, pensions and long-term savings consolidator listed on the London Stock Exchange (FTSE 100/250/AIM) in the United Kingdom. The company’s investment case is built around three strategic pillars: extracting value from existing in-force books, acquiring life and pension businesses, and generating additional value through profitable new business. In practical terms, Chesnara is not a mass-market insurer with broad consumer banking-style distribution; instead, it is a specialist operator focused on administering, optimising and capital-efficiently managing mature policy books across selected European markets. The group was formed in 2004 from Countrywide Assured, a life and pensions book demerged from Countrywide plc. Since inception, Chesnara has pursued a disciplined acquisition strategy and now has a track record of fifteen acquisitions, primarily in the UK, the Netherlands and Sweden. That history matters because it explains the group’s operating model: centralised governance, local business autonomy where appropriate, and a strong emphasis on cash generation from the back book. Chesnara’s portfolio includes Countrywide Assured and Chesnara Life in the UK, Scildon in the Netherlands and Movestic in Sweden. The company administers approximately 1.4 million policies across the group, giving it meaningful scale within its niche. From a competitive standpoint, Chesnara positions itself as a European life and pensions consolidator with specialist expertise in integration and long-duration policy administration. Its model aims to deliver stable cash flows, disciplined capital management and recurring dividend capacity, rather than rapid top-line growth. In the UK, the business has historically operated with an outsourced model, while in the Netherlands and Sweden it retains local operating structures better suited to those markets. This mix supports cost control and flexibility as the group evaluates further acquisition opportunities. Recent corporate developments have been material. In February 2026, Chesnara completed the acquisition of HSBC Life (UK) Limited, which has since been rebranded Chesnara Life, strengthening its UK footprint. Also in February 2026, the group announced the planned acquisition of Scottish Widows Europe SA, subject to regulatory approvals and expected to complete around the end of 2026. Chesnara also issued an updated financial framework in February 2026 and published its full-year 2025 results in March 2026. The London Stock Exchange news flow shows frequent Director/PDMR Shareholding announcements, consistent with an active listed company disclosure regime and regular governance-related RNS reporting. For investors, Chesnara is best understood as a specialist insurance consolidator with exposure to long-duration liabilities, cash generation, acquisition-led growth and operational efficiency. Its appeal lies in the combination of defensive earnings characteristics, European geographic diversification and an established record of integrating life and pension books in the UK, the Netherlands and Sweden.