Chesnara plc ('Chesnara') was formed in 2004 and is quoted on the London Stock Exchange. It was established in order to accommodate the ownership of Countrywide Assured plc ('CA') on its demerger, in May 2004, from Countrywide Assured group. CA is a substantially closed life assurance company.

In June 2005, Chesnara acquired a further UK closed life assurance company – City of Westminster Assurance Company Ltd ('CWA') from Irish Life and Permanent plc at a cost of £47.8m.

At the end of June 2006 the business of CWA was transferred, utilising a Part VII transfer under FSMA 2000, into CA thereby consolidating the two businesses.

In April 2009, Chesnara announced that it had signed an agreement to purchase Moderna Försäkringar Liv, an open Swedish life assurance company specialising in savings and pension products. The purchase price was £20m which represented a 73% discount to the company's embedded value at completion on 23rd July 2009. Since then Chesnara has made further investments in Sweden including the establishment of a fund management subsidiary of Moderna, the purchase of a further 42% stake in an IFA to increase its holding to 91% and the acquisition of the operations, systems, personnel and renewal rights of Aspis Liv, a Swedish life assurance company which specialised in risk and health products.

Chesnara continues to seek to acquire further life assurance and associated assets in the UK and Western Europe.

Information published regarding the above transactions can be found in the Historical Information of the Financial Information section of this website.

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