Strategic Ambition: A Bid for the FTSE 250
Calling the move “strategically compelling,” Chesnara CEO Steve Murray emphasized the transformational nature of the deal:
“This represents a material step up in scale for Chesnara Group. HSBC Life (UK) is a high-quality business operating in products that we know well and is capable, under our ownership, of generating substantial cash flows for many years.”
The acquisition could also qualify Chesnara for inclusion in the FTSE 250 index, potentially lifting its market profile and share price.
HSBC Life: A Powerful Player in Investment Bonds
According to Chesnara’s statement, HSBC Life is the second-largest operator in the U.K.’s onshore investment bonds market, offering individual protection products such as life insurance, critical illness coverage, and income protection.
Policyholders from HSBC Life would migrate to Chesnara’s platform once the deal is finalized, expanding Chesnara’s footprint in a segment it already knows well—life and pensions consolidation in the U.K. and the Netherlands, along with new business lines in Sweden.
