At the Chesnara Capital Markets Day yesterday the management team gave a very clear demonstration of the strengths of the business. Key takeaways for us included the potential acquisition opportunities in the UK and The Netherlands as a result of the introduction of Solvency II. In addition it was made crystal clear that any acquisition would be considered only if it had no detrimental impact on the continued growth of the dividend. Solvency II valuations are likely to be lower than ‘Em ....