LONDON: Chesnara plc confirmed that all remaining conditions precedent to the completion of the proposed acquisition of the Dutch insurance portfolio of Brand New Day Levensverzekeringen N.V. have now been fulfilled and the conversion of policies onto the systems of Chesnara’s Waard Leven N.V. has been completed.
John Deane noted: “This marks Chesnara’s fifth successful acquisition in the Netherlands since our initial purchase of the Waard Group in 2015.
The acquisition of the Brand New Day portfolio was agreed at the end of 2020 and the completion of the deal along with the migration of the data is testament to the excellent processes in Waard that ensure we deliver a smooth transition for the benefit of our customers, the regulator and other stakeholders”.
Chesnara is a life and pensions company listed on the London Stock Exchange. It administers over one million policies and operates as Countrywide Assured 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 16 years in succession. www.chesnara.co.uk