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Hardman & Co Research: Chesnara plc (CSN): Another fine acquisition

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Hardman & Co Research
Hardman & Co Research: Chesnara plc (CSN): Another fine acquisition
29-Jul-2022 / 07:15 GMT/BST

Hardman & Co Research:

Chesnara plc (CSN) Another fine acquisition

Chesnara has announced its seventh acquisition in the Netherlands, buying the closed life insurance books of “Conservatrix”. The latter is a life insurance and mortgage provider that filed for bankruptcy at the end of 2020 as a consequence of strategic errors by its US owner. The new policies will be bought by Chesnara’s Waard subsidiary, increasing its policy count by ca.70% and assets under administration by ca.90%. While less significant on these measures for the group as a whole, the acquisition does add meaningfully to its expected cashflow; it is expected to add £4m p.a. to the group.Please click on the link below for the full report:

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End of Announcement - EQS News Service

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