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Pin to quick picksChesnara Share News (CSN)

Share Price Information for Chesnara (CSN)

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Share Price: 255.00
Bid: 252.50
Ask: 253.50
Change: 5.00 (2.00%)
Spread: 1.00 (0.396%)
Open: 250.00
High: 255.00
Low: 248.50
Prev. Close: 250.00
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Chesnara's H1 pre-tax profit slips, dividend lifted

Wed, 31st Aug 2016 11:59

(ShareCast News) - Insurance-focused takeover specialist Chesnara has booked a first-half pre-tax profit of £0.24m, from a year-earlier surplus of £30.4m, stating its strategy continued to deliver dividend-supporting cash."Despite the initial short term impact of the further reduction in yield curve following the Bank of England's reduction in interest rate, we retain the view that the outlook for Chesnara remains largely unchanged," said chief executive John Deane.The comparative period enjoyed a greater net investment return of £182.2m, versus £108.7m in the just-finished leg.Net insurance premium revenues totalled £32.9m, from £34.3m. Interim dividend was boosted 2.9% to 6.8p a share, from 6.61p. Group solvency ratio was 148%, from 146% six months ago."The Chesnara strategy continues to deliver cash to support our dividend. Whilst the IFRS pre tax profits have been adversely impacted by the reduction in interest rates we have benefited from foreign exchange movements," Deane said in a statement."I am particularly pleased to report that our Economic Value has increased during the period and our Group Solvency ratio has improved," he added."The reductions in the yield curve in the UK has dampened the level of cash emerging from the UK books this half year but the overseas divisions have continued their cash generation that funds our dividend strategy."
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UPDATE 1-Chesnara FY profit jumps on Dutch insurance deal

March 29 (Reuters) - Chesnara Plc, an insurance-focused takeover specialist, reported on Thursday a surge in full-year pretax profit, driven by strength in its domestic business and gains from its

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Chesnara FY profit jumps on Dutch insurance deal

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13 Dec 2016 09:27

Chesnara Successfully Raises Funds For L&G Dutch Acquisition (ALLISS)

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24 Nov 2016 12:43

EXTRA: Chesnara Ready For More Dutch Acquisitions After L&G Deal

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24 Nov 2016 11:32

BUZZ-Chesnara: rises on L&G Dutch arm deal

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24 Nov 2016 07:31

L&G sells Dutch arm to Chesnara for €160m

(ShareCast News) - Legal & General has agreed to sell its Netherlands business to London-listed pensions firm Chesnara for €160m (£135.6m), the latest disposal from the insurer as it looks to consolidate its overseas operations. The sale of the Dutch arm is expected to improve the FTSE 100 company's

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