Chesnara, the UK life and pensions consolidator, advanced 4.1% in early trading on Tuesday after reporting a 79% increase in first-half operational capital generation to £96 million, up from £54 million a year earlier.
The company’s adjusted operating profit rose 46% to £31 million, while group cash remittances climbed 31% to £73 million. Assets under management expanded 38% to approximately £21 billion. Chesnara attributed £51 million of the operational capital generation to the integration of HSBC Life UK, its largest acquisition.
The board declared an interim dividend of 8.16 pence per share, a 6% increase and the 22nd consecutive year of dividend growth. The shares were last quoted at 343.49 pence, nearing a 52-week high of 352 pence.
The FTSE 100 and FTSE 250 opened modestly higher on Tuesday, with the latter, which includes Chesnara, up 0.1%. The insurer’s outperformance reflected company-specific momentum rather than broader macroeconomic drivers, the article noted.
