Chesnara Explores Acquisition of HSBC’s UK Life Insurance Unit

Chesnara PLC is reportedly considering an acquisition of HSBC Holdings PLC's UK life insurance business, with the deal potentially valued at several hundred million dollars.

This move places Chesnara among various competitors interested in expanding their presence in the UK insurance market. Chesnara, established in 2004, manages approximately one million life and pension policies across the UK, Sweden, and the Netherlands, with £14 billion in assets under administration as of end-2024.

The interest in HSBC's life insurance segment reflects ongoing consolidation trends and strategic portfolio expansions within the UK life insurance sector.