Chesnara to acquire MetLife UK's closed‑book life insurance business
Chesnara plc agreed to buy 100% of MetLife UK’s closed‑book life insurance portfolio, adding about 18,000 policies and £1.7 billion of assets under administration. The transaction, pending regulatory approval, is expected to close in early 2027. Chesnara says the deal will increase its Own Funds and Contractual Service Margin by roughly £45 million and generate about £90 million of lifetime cashflows, with half realised within five years. The acquisition does not affect MetLife’s ongoing UK protection operations.
Why it matters
The boost to Own Funds and cash generation strengthens Chesnara’s capital position and may support future acquisitions, while the impact on MetLife’s Solvency II ratio is expected to be neutral. Analysts note the deal adds long‑term capital generation without materially reducing Chesnara’s acquisition capacity.
Key facts
- 1Chesnara will acquire 100% of the share capital of MetLife UK’s closed‑book life insurance business. moneymarketing.co.uk
- 2The portfolio comprises around 18,000 customer policies and £1.7 billion of assets under administration. moneymarketing.co.uk
- 3The transaction is expected to increase Own Funds and Contractual Service Margin by about £45 million. moneymarketing.co.uk
- 4Lifetime cashflows from the deal are projected at roughly £90 million, with about half occurring within the first five years. moneymarketing.co.uk
- 5The deal is subject to regulatory approval and is slated to close in early 2027. rttnews.com
- 6Chesnara said the impact on its Solvency II ratio will be broadly neutral. moneymarketing.co.uk
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.