Chesnara PLC Change of Adviser (9735W)
December 17 2019 - 1:00AM
UK Regulatory
TIDMCSN
RNS Number : 9735W
Chesnara PLC
17 December 2019
CHESNARA plc
("Chesnara" or "the Company")
17 December 2019
LEI Number: 213800VFRMBRTSZ3SJ06
APPOINTMENT OF CORPORATE BROKER AND FINANCIAL ADVISER
Chesnara plc today announces the appointment of Investec Bank
plc to work alongside the Company's existing corporate broker and
financial adviser, Panmure Gordon (UK) Limited, with immediate
effect.
ENDS
Media Enquiries
Roddy Watt
Director, Capital Markets
FWD
Forward thinking communications
T - 020 7280 0651 / (+44) 7714 770493
E - roddy.watt@fwdconsulting.co.uk
Roddy Watt, FWD Consulting:
Notes to Editors
Chesnara is a life and pensions company listed on the London
Stock Exchange. It administers over one million policies with
approximately GBP7.8 billion of assets under management, with those
assets spread broadly equally across businesses in the UK, the
Netherlands and Sweden. Chesnara 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.
Chesnara has a proven track record of acquiring and
consolidating life and pension portfolios and businesses. The
acquisition that is the subject of this press release is evidence
of the continuation of this capability. The acquisition process
adds value for our shareholders whilst also providing a solution
for vendors to realise value and release capital. This is achieved
by vendors divesting life and pensions businesses or portfolios
which are not core to their wider strategic focus, or where
diminishing scale creates operational and hence financial viability
pressure. Chesnara's robust regulatory framework and strong
solvency ensures policyholder interests are well protected and
remain at the heart of any divestment decision.
Consistent delivery of the company strategy has enabled Chesnara
to increase its dividend for 15 years in succession.
Further details are available on the Company's website
(www.chesnara.co.uk).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
APPEANAKFSNNFEF
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