Chesnara agrees to buy 100% of Metlife UK from Metlife Group
MET•Chesnara agreed to buy 100% of Metlife UK from Metlife Group. The deal is expected to generate £90 million in lifetime cashflows, increase own funds and CSM by £45 million at completion, and have a broadly neutral impact on Chesnara’s Solvency II ratio.
1. Deal expectations
Chesnara agreed to buy 100% of Metlife UK from Metlife Group. The deal is expected to generate £90 million in lifetime cashflows, half in the first five years, and increase own funds and CSM by £45 million at completion. Its impact on Chesnara’s group Solvency II ratio is estimated to be broadly neutral, and the consideration is not expected to be material.
