CHESNARA PLC

Description

Founded in 2004, with the demerger of Countrywide Plc’s life insurance operation, the Chesnara Plc is a Life and Pension Consolidator operating across UK, Sweden and the Netherlands. Since 2004, the group has acquired various close and open book businesses such as City of Westminster Assurance, Movestic, Save and Prosper, Direct Line’s life assurance business, Waard Group, Legal & General and completed the acquisition of two portfolio of 6.000 policies from Monuta and 44,000 policies from the Dutch Brand of Argenta Bank under Waard Group.

The group aims to efficiently manage the life assurance and pension policies to deliver high profit, growth and dividend to investor and value for money to its customers, through its strategies that are to maximizing value from its existing business, acquiring life & pension businesses to create source of value enhancement and sustain the cash generation potential and enhancing value through new profitable and potential business.

The group operates closed consolidated businesses in the UK and Netherlands and a separate Dutch new business and an open business in Sweden, through acquisition, restructuring and management of financial services business in Sweden and Netherlands it aims to deliver attractive and consistent dividends to its shareholders. The group operates through four core divisions that are Countrywide Assured, Movestic, Waard Verzekeringen and Scildon.   The Countrywide Assured is engaged in offering financial protection, ranging from pension and saving to life cover benefits, it gains its many customers from the acquisition of closed-book business such as Direct line life, City of Westminster Assurance and Save & Prosper with the motive to maximize value from its existing business by outsourcing their UK operations to professional specialist. The Movestic is one of the two parts of the group that offers quality transparent unit linked pension and saving solutions to both customer and IFAs with the motive to deliver high return on saving and are sold through independent financial advisors that operates in the Swedish life insurance sector. The Waard Group division represents it Dutch Life and General insurance business based on the outskirts of Amsterdam, it has acquired the portfolio from Argenta Group in 2020 and further aiming to acquire the portfolio of Brand New Day in 2021. Scildon started trading as Legal & General Nederland in 1984, which was renamed as Scildon when acquired by the group. It is engaged in offering risk and investment linked products to high-net-worth customers and are sold by the independent financial advisor, it also offers a defined contribution group pension platform focusing on Dutch SMEs.