Directorate Change

RNS Number : 7531G

Chesnara PLC

11 June 2013

 



Directorate Change

As previously announced on the 21 November 2012 and following discussion at the AGM held on the 17 May and the subsequent announcement of the Result of the AGM, David Rimmington was appointed as Finance Director and joined the Board as an executive director with effect from the 17^th May 2013.

The Company confirms that there are no details to be disclosed under Listing Rule 9.6.13R(1) to (6).

On appointment David Rimmington held 2,127 ordinary 5p shares in Chesnara plc.

Enquiries

Graham Kettleborough

Chief Executive, Chesnara plc  -                                07799 407519

Notes to Editors

Chesnara plc, which listed on the London Stock Exchange in May 2004, is the owner of Countrywide Assured plc ("CA") and Movestic Livförsäkringar AB ('Movestic').

CA is a UK life assurance subsidiary that is substantially closed to new business. In June 2005 Chesnara acquired a further closed life insurance company - City of Westminster Assurance ('CWA')and with effect from 30 June 2006, CWA's policies and assets were transferred into CA. Save & Prosper Insurance Ltd and its subsidiary Save & Prosper Pensions Ltd (together 'S&P') were acquired on 20 December 2010. S&P was closed to new business prior to acquisition and it operates an outsourced business model which is complementary to Chesnara's existing UK operations. With effect from 31 December 2011, the business of S&P was transferred into CA.

Movestic, a Swedish life assurance company which originally focused on pensions and savings, was acquired on 23 July 2009. The company is open to new business and seeks to grow its position in the Swedish unit-linked market. Its proposition was strengthened in February 2010 with the acquisition of the operations of Aspis Försäkringar Liv AB which has a risk and health product bias.

 

END

 

 

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