Block listing Interim Review

RNS Number : 9186W

Chesnara PLC

25 April 2019

 

CHESNARA plc

("Chesnara" or "the Company")

25 April 2019

LEI Number: 213800VFRMBRTSZ3SJ06

BLOCK LISTING SIX MONTHLY RETURN

Name of applicant:		Chesnara plc
Name of scheme:		Block listing for the Company's Short-Term Incentive (STI) Scheme, Long-Term Incentive (LTI) Scheme, Share Save Scheme and Scildon Share Bonus Plan.
Period of return:	From:	25th October 2018	To:	25th April 2019
Balance of un-allotted securities under scheme(s) from previous return:		450,000
Plus:  The amount by which the block scheme(s) has been increased since the date of the last return (if any increase has been applied for):		Nil
Less:  Number of securities issued/allotted under scheme(s) during period (see LR3.5.7G):		23,195
Equals:  Balance under scheme(s) not yet issued/allotted at end of period:		426,805

Name of contact:	Al Lonie
Telephone number of contact:	[phone]

For further information, please contact:

Roddy Watt

Director, Capital Markets

FWD

Forward thinking communications

T   -    020 7280 0651  

E   -    [e-mail] 

Notes to Editors

Chesnara plc ('Chesnara'), which listed on the London Stock Exchange in May 2004, is the owner of Countrywide Assured plc ('CA plc'), Movestic Livförsäkringar AB ('Movestic') and Chesnara Holdings BV. Chesnara Holdings BV is the intermediate holding company of 'Waard Group' and 'Scildon'.

CA plc is a UK life assurance subsidiary that is closed to new business.  In June 2005 Chesnara acquired a further closed life insurance company - City of Westminster Assurance - for £47.8m.  With effect from 30 June 2006, CWA's policies and assets were transferred into CA plc.  Save & Prosper Insurance Limited and its subsidiary, Save & Prosper Pensions Limited, were acquired on 20 December 2010 for £63.5 million.  With effect from 31 December 2011, the business of Save & Prosper was transferred into CA plc.  On 28 November 2013 Chesnara acquired Direct Line Life Insurance Company Limited (subsequently renamed Protection Life Company Limited) from Direct Line Group plc for £39.3m.  On 31 December 2014 the PL business transferred into CA plc.  CA plc operates an outsourced business model.

Movestic, a Swedish life assurance company which originally focused on pensions and savings, was acquired on 23 July 2009 for £20 million.  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.

The Waard Group, a Netherlands-based Group comprising two closed book insurance companies (life and income protection) and a servicing company, was acquired on 19 May 2015 for €69.9m from DSB Beheer B.V., a Dutch financial services Group.  The group comprises Waard Leven N.V., Waard Schade N.V. and Waard Verzekeringen B.V.  The portfolio of the Waard Group is predominantly term life policies with some unit linked and income protection policies.  On 5 April 2017 Chesnara completed its acquisition of Legal & General Nederland Levensverzeikering Maatschappij N.V. ('LGN') for €161.2 million. The business was renamed Scildon, is in the Dutch life assurance market and, as with our Swedish subsidiary Movestic, it writes protection and pension new business.

Further details are available on the Company's website (www.chesnara.co.uk).

 

END

 

 

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