After an interval of 18 months, Chesnara announced a new acquisition just before Christmas. Although relatively small, it is another positive step for the company. The deal is a further acquisition from Canada Life UK, this time a portfolio of unit-linked bonds and legacy pension business, consisting of ca.17,000 policies and £1.5bn of AUM. The portfolio will transfer into Chesnara’s UK business, Countrywide Assured. Expected completion is at the end of 2025, subject to the Part VII transfer getting court approval. Having previously purchased a Canada Life UK term assurance book, the integration should be straightforward.
