Chesnara has reported a 10% jump in assets under administration (AuA) to £15bn in its latest annual results.
The European life and pensions consolidator called its 2025 financial year a “transformational period” for the group, after delivering the acquisitions of HSBC Life (UK) and Scottish Widows Europe SA.
Chesnara also reported a 42% jump in adjusted operating profit for the year, which climbed to £56m. The group closed the year with a solvency coverage ratio of 257%, significantly higher than the upper end of its operating range, which it said would provide “ongoing capacity” to pursue inorganic investment opportunities.
This follows Chesnara’s two major transactions that it announced last year. The group’s acquisition of HSBC Life (UK) acquisition completed in January, with the business rebranded as Chesnara Life, marking Chesnara’s largest transaction to date.
The company’s acquisition of Scottish Widows Europe SA, announced in February, added €1.7bn of AUA and an estimated 46,000 policies, while creating a foothold in Luxembourg for future European consolidation.
Chesnara’s CEO, Steve Murray, commented: “The group has delivered strong financial results alongside two material deals, the acquisition of HSBC Life (UK) which completed in January 2026 and the proposed acquisition of Scottish Widows Europe SA.
“These deals are expected to significantly increase the group's scale and longer-term operating capital generation potential. And we continue to see further opportunities to grow, with a positive M&A pipeline and a great track record of disciplined execution.”
