Ashurst Guides Chesnara Buy Of Sanlam Unit For £39M

By Martin Croucher (September 13, 2021, 2:11 PM BST) -- British pensions provider Chesnara PLC said on Monday that it has bought the U.K. retirement and life insurance business of South African giant Sanlam for £39 million ($54 million).

Chesnara said the deal will add some £2.9 billion ($4 billion) of assets under administration and around 80,000 policies to its business in Britain. (iStock) The deal will add around £2.9 billion of assets under administration and around 80,000 policies to Chesnara's business in Britain. Chesnara said the deal would close in the first three months of 2022, although it is awaiting regulatory approval.

"[The Sanlam Life and Pensions UK Ltd.] business is...

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