Chesnara has announced its 1H’24 results. The main features were positive equity market returns, offset to some extent by further adverse lapse experience. Economic Value profit of £20.2m was behind the 1H’23 result of £32.6m (excl. acquisitions). Economic Value saw a small decline to £508m, from £525m at the year-end, with the dividend payment and forex losses offsetting the earnings. Cash generation was solid, with base cash of £19.6m and commercial cash generation of £29.2m. The interim dividend, as expected, was increased by 3% to 8.61p. This will be the 20th consecutive year of dividend increases.
