Life and pensions provider Chesnara has reported assets under administration rose 38% to £21bn in the first half of 2026.
Publishing interim results today, it said adjusted operating profits in the period climbed 46% to £31m.
Steve Murray, group CEO, said: “Chesnara has delivered a very strong financial performance in the first half of 2026 with operating capital generation up 79% and a 6% increase in the interim dividend.”
In February it acquired Luxembourg-based closed life insurance business Scottish Widows Europe from Lloyds Bank subsidiary Scottish Widows for €110m (£95.98m). The deal added €1.7bn (£1.48bn) of assets under administration to Chesnara and approximately 46,000 in force policies.
Mr Murray said: “The regulatory change in control for the proposed acquisition of Scottish Widows SA is anticipated around the end of 2026.”
In January Chesnara completed the acquisition of HSBC Life (UK). The business was rebranded as Chesnara Life UK and was the firm’s largest acquisition to date.
Mr Murray said: “The integration of Chesnara Life UK continues at pace with strong capital generation already delivered from our first five months of ownership.”
Chesnara was formed in the UK 2004 with the purchase of closed life and pensions book Countrywide Assured, which had been demerged from estate agency group Countrywide.
Before this year it had grown through the acquisition of three predominantly closed UK businesses, open life and pensions businesses in Sweden and the Netherlands and a closed Dutch group.
Looking ahead Mr Murray said there could be more deals in the offing: “We continue to see attractive opportunities to grow the business, underpinned by a healthy M&A pipeline and disciplined execution across the group.”
The business administers 1.3m life and pension policies across Countrywide Assured and Chesnara Life UK in the UK, Scildon in the Netherlands, and Movestic in Sweden.