Chesnara buys Scottish Widows Europe from Lloyds for €110m

(Sharecast News) - Chesnara on Tuesday said it had signed a deal to buy Scottish Widows Europe, a Luxembourg based closed life insurance business from Lloyds Banking Group for €110m in cash.

The life assurance and pensions company said the acquisition would add €1.7bn of assets under administration and approximately 46,000 in-force policies to its business.

Reporting by Frank Prenesti for Sharecast.com