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Chesnara completes L&G Nederland acquisition

06 April 2017 07:50

Chesnara has completed its acquisition of Legal & General Nederland Levensverzekering Maatschappij.

It said the total consideration paid was €161.236m, which comprised €160m plus interest for the period to completion, of €1.236m.

Chief executive John Deane said: "Chesnara is delighted to have acquired another well-run and attractive business in the Dutch life assurance market and I am delighted to welcome the customers and employees of Legal & General Nederland to Chesnara.

"As with our Swedish subsidiary Movestic, we will be writing protection and pension new business and this will complement our closed book consolidation business Waard.

"We see great opportunities for both organisations within the Chesnara group to deliver value to our customers, their advisors and our shareholders."

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