--- title: "Chesnara To Acquire Scottish Widows Europe For EUR 110 Mln" type: "News" locale: "en" url: "https://longbridge.com/en/news/276102023.md" description: "Chesnara plc has agreed to acquire Scottish Widows Europe SA for EUR 110 million from Lloyds Banking Group's subsidiary. The deal, expected to complete by end-2026, involves a business with EUR 1.7 billion in assets and 46,000 policies. It is projected to generate EUR 250 million in cash over its lifetime, with EUR 100 million in the first five years. The acquisition will be funded through internal cash resources, maintaining a Solvency II coverage ratio of 173% and leverage below 30%." datetime: "2026-02-17T07:34:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276102023.md) - [en](https://longbridge.com/en/news/276102023.md) - [zh-HK](https://longbridge.com/zh-HK/news/276102023.md) generator: "portal-rs" --- # Chesnara To Acquire Scottish Widows Europe For EUR 110 Mln Add as your preferred news source on Google Add Now Chesnara plc (CSN.L, CSN.AQ), a Life and Pensions Consolidator, on Tuesday agreed to acquire Scottish Widows Europe SA from Scottish Widows Limited, a subsidiary of Lloyds Banking Group plc (LLOBF, LYG, LLOY.L), for total cash consideration of 110 million euros. The deal completion is expected around end-2026. The Luxembourg-based closed life insurance business has 1.7 billion euros of assets under administration and around 46,000 in-force policies. The acquisition is expected to generate approximately 250 million euros of cash over the lifetime of the portfolio, with about 100 million euros anticipated in the first five years. The deal's consideration of 110 million euros represents 0.64x the full year 2024 Own Funds of 173 million euros. The transaction will be fully funded from internal cash resources, including proceeds from the company's 150 million pounds RT1 bond issued in August 2025. Pro-forma Solvency II coverage ratio is estimated at 173% as at December 31, 2024, remaining above the group's normal operating range of 140% to 160%. Leverage is expected to remain below the long-term target of 30%. On Monday, Lloyds Banking Group closed trading 1% higher at 101.40 pence on the London Stock Exchange. For comments and feedback contact: editorial@rttnews.com Business News ### Related Stocks - [CSN.UK](https://longbridge.com/en/quote/CSN.UK.md) - [LYG.US](https://longbridge.com/en/quote/LYG.US.md) - [LLOY.UK](https://longbridge.com/en/quote/LLOY.UK.md) ## Related News & Research - [REG - Lindsell Train Ltd Schroders PLC - Form 8.3 - Schroders Plc](https://longbridge.com/en/news/297776645.md) - [REG - L&G – Asset Mgmt. Ld Picton Property Inc. - Form 8.3 - Picton Property Income Limited](https://longbridge.com/en/news/298024493.md) - [REG - BlackRock Group SEGRO PLC - Form 8.3 - SEGRO plc](https://longbridge.com/en/news/297800413.md) - [REG - BlackRock Group Rotork PLC - Form 8.3 - Rotork plc](https://longbridge.com/en/news/297800453.md) - [REG - Societe Generale SA DCC Energy PLC - Form 8.3 - DCC Energy plc](https://longbridge.com/en/news/297781470.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**