Chesnara buys MetLife UK for undisclosed sum

(Sharecast News) - Chesnara has agreed to buy MetLife UK, a closed-book life insurance business with around 18,000 policies and £1.7bn of assets under administration. The acquisition is expected to enhance Chesnara's UK operations and generate approximately £90m of lifetime cash flows. No purchase price was disclosed. Chesnara said the consideration is not expected to be material. The deal is expected to complete in the first half of 2027, subject to regulatory approvals.

MetLife's ongoing UK protection business is not included in the deal.

Reporting by Frank Prenesti for Sharecast.com