Edition:
United States

Chesnara PLC (CSN.L)

CSN.L on London Stock Exchange

396.00GBp
10:09am EDT
Change (% chg)

-3.75 (-0.94%)
Prev Close
399.75
Open
394.50
Day's High
398.00
Day's Low
393.50
Volume
26,328
Avg. Vol
85,140
52-wk High
419.75
52-wk Low
288.45

Latest Key Developments (Source: Significant Developments)

Chesnara posts H1 IFRS pretax profit of 51.6 mln pounds
Thursday, 31 Aug 2017 02:00am EDT 

Aug 31 (Reuters) - CHESNARA PLC ::H1 ECONOMIC VALUE (ECV) OF £700.4M NOTE 1 (31 DECEMBER 2016: £602.6M)..H1 GROUP CASH GENERATION OF £46.2M NOTE 2 (SIX MONTHS ENDED 30 JUNE 2016: £13.6M).H1 IFRS PROFIT BEFORE TAX OF £51.6M (SIX MONTHS ENDED 30 JUNE 2016: £0.2M).H1 GROUP SOLVENCY RATIO OF 143% (31 DECEMBER 2016: 144% NOTE 3 ).2.9% INCREASE IN INTERIM DIVIDEND COMPARED WITH 2016.INVESTIGATION INTO HOW COUNTRYWIDE ASSURED DISCLOSED EXIT FEES TO CUSTOMERS, INITIALLY ANNOUNCED ON 3 MARCH 2016, IS ONGOING.HAVE PROVIDED FCA WITH ALL INFORMATION REQUESTED.OUTCOME FROM INVESTIGATION SHOULD NOT HAVE A MATERIAL IMPACT ON COMPANY.UK BUSINESS REMAINS A ROBUST SOURCE OF CASH, WITH ADDITIONAL POTENTIAL TO TAKE MANAGEMENT ACTIONS TO ENHANCE CORE CASH IF REQUIRED.REMAIN OPEN MINDED ABOUT NEW TERRITORIES BUT BENEFITS WOULD NEED TO OUTWEIGH INHERENT CHALLENGE OF ADDING ANOTHER REGULATORY ENVIRONMENT INTO OUR BUSINESS MODEL.WHATEVER OUTCOME FROM BREXIT NEGOTIATIONS, WE EXPECT IT TO HAVE LITTLE DIRECT IMPACT ON OUR BUSINESS MODEL.  Full Article

Chesnara Plc posts FY pre-tax profit of 40.7 mln pounds
Friday, 31 Mar 2017 02:00am EDT 

Chesnara Plc : FY total group cash generation of £85.4 mln (31 December 2015: £82.4 mln) . FY IFRS profit before tax of £40.7 mln (31 December 2015: £42.8 mln) . FY IFRS total comprehensive income of £55.4 mln (31 December 2015: £39.6 mln) . FY group solvency ratio of 158% (31 December 2015: 146%) . Recommended final dividend of 12.69p per share (2015: 12.33p per share) . DNB have confirmed their non-objection to legal & general nederland acquisition which is expected to complete in week commencing 3 April 2017 . Announces Legal and General Nederland acquisition and delivers strong value growth . Full positive impact of Legal and General Nederland acquisition will be recognised on completion in 2017 results . Should brexit changes to regulatory requirements, then model suitably flexible for co to potentially adopt an alternative regulatory model .Optimistic that as uncertainty due to solvency II and FCA legacy review reduces, UK acquisition market will become more active.  Full Article

Chesnara appoints Ken Hogg as CEO of Countrywide Assured
Wednesday, 26 Oct 2016 02:00am EDT 

Chesnara Plc :Ken Hogg has been appointed CEO of Countrywide Assured, Chesnara's UK life assurance subsidiary.  Full Article

Chesnara says post-Brexit regulatory changes may lead to HQ shift
Wednesday, 31 Aug 2016 05:54am EDT 

Chesnara Plc : Says could move HQ to Amsterdam, depending on EU/UK regulatory environment . Says preferred scenario is to maintain HQ in Preston, northwest England Further company coverage: [CSN.L] (Bengaluru Newsroom) ((+91 806 749 1136;)).  Full Article

Chesnara says full-year outlook largely unchanged
Wednesday, 31 Aug 2016 02:00am EDT 

Chesnara Plc : Half-Year report . Group solvency ratio of 148 pct (31 December 2015: 146 pct) . Cash generation of £13.6m note 1 (six months ended 30 June 2015: £16.8m .excluding exceptional cash gain on acquisition of waard) . Economic value (ecv) of £459.9m note 2 (31 december 2015: £453.4m) . Ifrs profit before tax of £0.2m (six months ended 30 june 2015: £30.4m . Current period is adversely impacted by a reduction in yield curve . Prior year result includes a gain of £16.2m recognised on acquisition of waard group . Economic value loss net of tax of £3.5m . 2.9% increase in interim dividend compared with 2015. Recommended interim dividend of 6.80p per share (2015: 6.61p per share . Outlook for chesnara remains largely unchanged . Value enhancing acquisition opportunities in uk and western europe, principally in £50m - £200m range, continue to be sought and examined . Reductions in yield curve in uk has dampened level of cash emerging from uk books this half year .Overseas divisions have continued their cash generation that funds our dividend strategy.  Full Article

Chesnara to focus on UK, Dutch acquisitions as H1 profit jumps

Aug 31 British life insurance takeover specialist Chesnara Plc said it would focus on acquisitions in Britain and the Netherlands but was open to opportunities in other regions.