The Chesnara Board has proposed a 2023 final dividend of 15.61p per share (2023 total dividend of 23.97p), which equates to £36.1m and a 3% increase compared to 2022 (£35.0m) and extends the period of uninterrupted dividend growth to 19 years.
Other financial highlights include:
Completion of the acquisition of Conservatrix's insurance portfolio in the Netherlands
Acquisition of an individual protection portfolio from Canada Life UK
New UK strategic partnership with SS&C Technologies for policy administration
Strong group commercial cash generation of £53.0m (FY 2022: £46.6m)
Robust solvency of 205% (FY 2022: 197%), materially above their 140 - 160% normal operating range
Economic value ("EcV") of £524.7m, 348p per share (FY 2022: £511.7m, 340p per share)
Commercial value of new business of £10.1m (FY 2022: £9.5m)
IFRS pre-tax profit of £1.8m (FY 2022: £62.1m loss)
