Who Is Chesnara PLC?
Founded in 2004 and listed on the London Stock Exchange, Chesnara PLC is a leading consolidator and manager of life and pensions businesses across the UK, Sweden, and the Netherlands.
Headquartered in Preston, Lancashire, Chesnara was originally formed through the demerger of Countrywide Assured from Countrywide PLC, marking the start of a journey focused on acquiring and efficiently managing closed-book life insurance portfolios.
With close to 1 million policies under administration and £14 billion in assets as of December 2024, Chesnara operates as both a financial steward and a strategic acquirer.
The company delivers consistent returns to shareholders through dividends, while ensuring policyholders receive fair treatment, regulatory compliance, and effective service.
Chesnara’s unique blend of closed-book consolidation and open-book new business, particularly through its subsidiaries Movestic (Sweden) and Scildon (Netherlands), demonstrates a forward-thinking balance of legacy management and growth.
Its reputation is built on robust governance, sustainability commitments, and responsible risk management, making it a trusted name in the UK and European financial services landscape.
Who Are the Key Leaders Behind Chesnara PLC?
Chesnara’s success is underpinned by a seasoned board and executive team with deep experience across insurance, asset management, M&A, regulation, and governance.
| Name | Role | Highlights and Specialisation |
| Luke Savage | Chair of the Board | Leadership, board effectiveness, governance, Chair at Liontrust |
| Steve Murray | Group Chief Executive | M&A, strategy, transformation, former Royal London and Standard Life |
| Tom Howard | Chief Financial Officer | Strategy, capital management, financial reporting, former Aviva CFO |
| Eamonn Flanagan | Independent Non-Executive Director & Chair of Remuneration | Audit, risk, insurance, NED at AJ Bell, Chair at Movestic |
| Carol Hagh | Independent Non-Executive Director & Senior Independent Director | Governance, founder, strategic oversight |
| Sam Tymms | Independent Non-Executive Director | Regulatory expertise, governance, former FSA, NED at Julius Baer |
| Gail Tucker | Independent Non-Executive Director & Chair of Audit & Risk | Financial services audit, insurance, former PwC partner |
Their combined experience ensures Chesnara delivers on shareholder value while prioritising policyholder outcomes and regulatory responsibilities.
What Are the Capital Strengths and Financial Milestones of Chesnara PLC?
Chesnara operates with a strong financial foundation. As a public limited company (Company No. 04947166) incorporated on 29 October 2003, it has consistently demonstrated robust solvency and capital management.
| Financial Attribute | Detail |
| Company Status | Active |
| Last Accounts Made Up | 31 December 2024 |
| Next Accounts Due | 30 June 2026 |
| Assets Under Administration (2024) | £14 billion (£6bn UK, £5bn Sweden, £3bn Netherlands) |
| Economic Value (UK, 2024) | £187 million |
| Solvency II Coverage Ratio (2024) | 135% |
| Business Classification (SIC Code) | 70100 – Activities of head offices |
The company’s dividend-led shareholder value strategy is complemented by growth through acquisitions, such as the recent closed-book acquisitions from Canada Life UK, expected to finalise through Part VII transfers in 2025.
What Services and Features Does Chesnara PLC Offer?
Chesnara’s service model revolves around the effective management of life and pensions businesses, focusing on both closed and open books:
- Policy Administration: Management of ~1 million life, pensions, and protection policies across three countries.
- Acquisition Expertise: Specialised in identifying, acquiring, and integrating closed life books and legacy portfolios.
- New Business Operations: Writing profitable new life and pensions business in Sweden (Movestic) and the Netherlands (Scildon).
- Outsourced Operations: UK services outsourced to professional partners, overseen by Chesnara’s governance teams for cost efficiency.
Customer-First Philosophy: Committed to fair customer outcomes, recognised with the Investor in Customers Silver Award (2020). - Sustainability Integration: Embedding environmental, social, and governance (ESG) principles across all activities.
The company’s guiding cultural pillars, ranging from responsible risk-based management to robust regulatory compliance, ensure it balances financial strength with societal responsibility.
Where Are the Main Offices and How Can You Contact Chesnara PLC?
| Contact Type | Details |
| Registered Office | 2nd Floor, Building 4, West Strand Business Park, West Strand Road, Preston, PR1 8UY |
| Head Office | Chesnara PLC, Building 4, West Strand Business Park, West Strand Road, Preston, PR1 8UY |
| Telephone | +44 01772 972 050 |
| info@chesnara.co.uk | |
| Website | www.chesnara.co.uk |
The company’s active Companies House filings show transparent governance, with confirmation statements and accounts consistently up to date.
Where Does Chesnara PLC Operate and What Are Its Future Plans?
Operating primarily in Western Europe, Chesnara focuses on:
- UK: Countrywide Assured (closed book consolidation).
- Sweden: Movestic (open business and growth).
- Netherlands: Scildon (open) and Waard Group (closed books).
Future plans emphasise continued acquisitions, sustainable growth, and leveraging their flexible, outsourced model in the UK to accommodate further portfolio transfers.
The recently announced second Canada Life UK transaction, with transfer expected in 2025, reflects Chesnara’s commitment to disciplined growth.
Why Choose Chesnara PLC?
Chesnara PLC offers a rare combination of stability, transparency, and growth in the insurance consolidation sector. For policyholders, it means secure, well-managed policies.
For investors, it offers attractive, sustainable dividends. And for regulators and stakeholders, Chesnara represents a model of responsible financial services governance.
Whether you are a policyholder, shareholder, regulator, or business partner, Chesnara PLC stands out as a financially strong, strategically focused, and ethically committed company delivering long-term value.
