HSBC Life (UK) sold to Chesnara in £260m deal

Adds about £4bn of AUM and 454,000 policies

Jenna Brown
clock • 1 min read

Chesnara has bought specialist life protection and investment bond provider HSBC Life (UK) for £260m.

Chesnara, a life insurance and pensions consolidator, said the deal would add about £4bn to its assets under management (AUM) and consisted of 454,000 policies. HSBC (Life) has eligible own funds of £314m. The deal is expected to result in incremental lifetime cash generation in excess of £800m from HSBC Life (UK) with cash generation of more than £140m during the first five years post-acquisition, the business said. The cash consideration of £260m has been funded through a combination of £55m of existing internal cash resources, £65m drawdown from the group's increased £150m revolvi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

NextGen Planners becomes Plannex

NextGen Planners becomes Plannex

‘We have outgrown the name NextGen’

Isabel Baxter
clock 10 July 2025 • 2 min read
Chase de Vere's revenue hits £118.6m driven by acquisitions and client referrals

Chase de Vere's revenue hits £118.6m driven by acquisitions and client referrals

Profit before tax reaches £31.9m in 2024

Isabel Baxter
clock 08 July 2025 • 2 min read
FE Fundinfo integrates portfolio analysis and cashflow planning solutions

FE Fundinfo integrates portfolio analysis and cashflow planning solutions

FE Analytics and FE CashCalc integrated on Nexus platform

Isabel Baxter
clock 07 July 2025 • 1 min read