Chesnara's New Acquisition from Canada Life UK

Chesnara has announced a new acquisition after an 18-month pause. This development, although modest, marks a positive step for the company. The acquisition involves a portfolio from Canada Life UK, comprising unit-linked bonds and a legacy pension business. This portfolio includes around 17,000 policies with £1.5 billion in assets under management (AUM). It will be integrated into Chesnara’s UK branch, Countrywide Assured, pending court approval by the end of 2025. Chesnara had previously acquired a Canada Life UK term assurance book, which should simplify the integration process.