Sanlam UK has agreed to sell its life insurance and pensions business to Chesnara – a life insurance consolidator.
Sanlam Life & Pensions UK Limited (SLP) will add £2.9 billion of assets under administration and around 80,000 policies to Chesnara.
This should increase Chesnara’s AUA by 34 percent to £11.4 billion.
The consolidator will pay £39 million for SLP. Chesnara estimated SLP’s economic value stands at £48.1 million. The SLP business will be in...
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