Chesnara to enter Luxembourg with Scottish Widows Europe purchase

Group 1 - Chesnara has agreed to acquire Scottish Widows Europe for $130.2 million (£95.97 million), marking its entry into the Luxembourg market and expanding its policyholder base in Germany, Austria, and Italy [1][2] - The acquisition is expected to generate approximately €250 million in cash flow from existing policies, with around €100 million anticipated within the first five years [2] - Chesnara will take on about 46,000 active policies and €1.7 billion in assets under administration as a result of this deal [2] Group 2 - The acquisition price represents 0.64 times the forecast Own Funds of Scottish Widows Europe, which are projected to be €173 million in 2024 [2] - Finalization of the deal is subject to regulatory approvals and is expected to be completed around the end of 2026, with Scottish Widows Europe continuing as a stand-alone operation [3] - Chesnara's CEO emphasized the strategic importance of this acquisition for further consolidation and expansion in the European market [5][6]