General Insurance Article - Legal and General complete Netherlands sale to Chesnara


As previously announced on the 24 November 2016, Legal & General Group Plc (“Legal & General”) has today announced the completion of the sale of Legal & General Nederland Levensverzekering Maatschappij N.V. (“Legal & General Netherlands”) to Chesnara plc (“Chesnara”) for €161 million. The sale of the business has marginally improved the group coverage ratio, and delivered a small IFRS profit.

 Legal & General is disposing of non-core businesses, focusing capital and resource on core businesses in growth markets where we believe we can achieve significant scale and deliver attractive returns for shareholders. We have previously sold businesses in Ireland, France, Egypt, the Gulf, and Suffolk Life and Cofunds in the UK.

 Legal & General Netherlands is headquartered in Hilversum, Netherlands, and was established in 1984. It is a leading player in adviser-led risk and investment-linked products, sold through independent financial advisers, serving high-end affluent customers. It also has an established defined contribution group pension platform focused on Dutch SMEs. It has over 210, 000 policyholders, funds under management are €2.1 billion, and it wrote protection gross written premiums of €63 million in 2016.  

Back to Index


Similar News to this Story

Warning that gold and jewellery thefts spike in January
Thefts of gold and jewellery peak in the month of January, figures from leading insurer Allianz UK reveal. Claims figures between January 2021 and end
Radical road safety strategy hailed
The AA has welcomed the government’s Road Safety Strategy, which introduces targets for reducing road deaths for the first time in the UK since 2010,
Car insurance premiums continue sliding with 13% annual fall
Comprehensive car insurance premiums have fallen by 13% (£111) during the last 12 months with UK motorists now paying £726 on average, according to th

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.