Chesnara's £260m purchase of HSBC Life UK clears regulatory hurdle

(Sharecast News) - Life and pension consolidator Chesnara has received regulatory approval for its £260m acquisition of HSBC's UK life insurance manufacturing business. The deal, first announced in July, includes all in-force life insurance policies and investment products written by HSBC Life UK.

According to Chesnara at the time of the agreement, the transaction will add around £4bn of assets under administration and 454,000 policies.

"Chesnara is pleased to announce that the proposed acquisition has received UK regulatory approval and work will now progress with a view to completing the transaction at the end of January 2026," the company said in a statement.

The firms said in July that around 230 roles supporting HSBC Life UK were expected to transfer to Chesnara.

Chesnara's stock was up 0.4% at 282.03p by 1545 GMT.