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Our Business

Our Group comprises largely closed consolidation business in the UK and a closed-book consolidation business in the Netherlands. In addition, we have a separate Dutch new business operation and a separate open business in Sweden.

ABOUT OUR DIVISIONS

We have a clear aim to provide a consistent and dependable dividend flow for our shareholders through the acquisition, restructuring and management of Financial Services companies in Western Europe. Our primary focus is on closed books but we also recognise the contribution of open businesses where there is clear value enhancement.

Countrywide Assured provides financial protection, ranging from pensions and savings to life cover and critical illness benefit. It was their initial portfolio of policies that brought about the formation of Chesnara plc in 2004.

Many of their customers originate from historical acquisitions. For example, closed-book businesses purchased from City of Westminster Assurance, Save & Prosper, and Direct Line Life.

The primary focus of the business is the efficient and effective management of policies and customers’ interests, with the strategic objective of maximising value from the existing business. Countrywide Assured achieve this strategic aim by outsourcing their UK services to professional specialists, which is closely monitored by a central UK based governance team.

This outsourcing model creates a degree of cost variability, which is vital for a closed-book business whose size is reducing naturally over time. It’s an approach that also offers the flexibility to support and accommodate future acquisitions.

This model also supports the company's overriding philosophy of "putting the customer first". Adopting this perspective not only ensures a rewarding financial future for their customers but also supports delivery of a service that meets their needs. The company's efforts to deliver a first-class customer service were recently recognised by an Investor in Customers Silver Award 2020.

In 2023, Chesnara completed the acquisition of a closed portfolio of individual protection business from Canada Life UK. The Part VII insurance business transfer of this portfolio into CA plc was completed on 24 February 2025.

A second transaction with Canada Life UK to acquire a closed portfolio of unit-linked bonds and legacy pension business was completed in 2024. This transaction is initially executed via a reinsurance agreement, with the policies expected to transfer to the Group through a Part VII insurance business transfer process following court approval during 2025.

£157m
Economic Value
30 June 2025
£5bn1
Assets under Administration
30 June 2025
2004
Original book divested to Chesnara
172%
SII Coverage Ratio
30 June 2025

1 Includes the impact of the Canada Life portfolio acquisition, expected to part VII and migrate during 2025​

www.countrywideassured.co.uk

Movestic is one of the two parts of the Chesnara Group which deliver against the core objective “Enhance value through profitable new business”. From their Stockholm base, Movestic operates as a challenger brand in the Swedish life insurance market. They offer transparent unit linked pension and savings solutions through Independent Financial Advisors. Movestic is currently one of the most selected providers of advised occupational pension plans within the fund insurance segment in Sweden.

Movestic places great importance on providing quality service to both customers and IFAs, with simple, clear unit linked products, supported by an attractive and broad investment fund range. The aim of Movestic is to offer policyholders the best funds and management services on the market. Year after year, their customers have enjoyed good returns on their savings. This means that they can offer a real chance of a better future when the time comes for their customers’ retirement.

Movestic also has a portfolio of risk and health products which offer protection should the worst happen. Their range of policies is closely adapted to the needs of their customers, and their claims handling is one of the best in the Swedish industry.

Unlike the UK operations, Movestic manages its own servicing. An in-house model is deemed more appropriate given the focus towards tailored high quality servicing of IFA’s and the fact the business is growing.

As an “open” business, Movestic not only adds value from sales but as it gains scale, will become increasingly cash generative which will fund further growth or contribute towards the Group’s dividend strategy.

£202m
Economic Value
30 June 2025​
£6bn
Assets under Administration
30 June 2025​
2009
Original book divested to Chesnara
148%
Solvency Coverage Ratio
30 June 2025​

Scildon is based in Hilversum in the Netherlands and started trading in 1984 as Legal & General Nederland. The company has been renamed Scildon following the acquisition by Chesnara.

Scildon is a leading provider of risk and investment-linked products, sold through independent financial advisers to high net worth customers. It also offers a defined contribution group pension platform focusing on Dutch SMEs.

A successful combination of customer focus and product development has made Scildon a “top 5 player” on the Term market, market leader in Unit Linked Products and has delivered impressive growth in the field of defined contribution Group Pensions. Scildon has won several awards from the Dutch organisation of independent financial advisors, Adfiz, and was awarded “Best Individual Life Insurance” provider and “Best Group Pension Insurer” for 2017.

Scildon and Chesnara have ambitious growth plans for the company, with further product, systems and portal development anticipated to further enhance Scildon’s enviable position in the Dutch Life & Pensions market.

It’s official: as of July 2, 2025,  Scildon and Waard have joined forces.

The Dutch Central Bank has approved the transaction. Our Managing Director, Pauline Derkman, commented: “Together we are stronger in continuing to play a meaningful role in a consolidating market.” 

“Joining forces with Waard feels right,” Pauline continues. “We share the same shareholder—Chesnara plc—and both specialize in life insurance. The difference is that Scildon actively offers life insurance policies, while Waard manages them. We know each other’s products well and complement each other perfectly. By merging, we create a more agile and effective organisation.

Together, Scildon and Waard have £3bn of Assets under Administration, with a combined Economic Value of £265m as at 30 June 2025.

Countrywide Assured provides financial protection, ranging from pensions and savings to life cover and critical illness benefit. It was their initial portfolio of policies that brought about the formation of Chesnara plc in 2004.

Many of their customers originate from historical acquisitions. For example, closed-book businesses purchased from City of Westminster Assurance, Save & Prosper, and Direct Line Life.

The primary focus of the business is the efficient and effective management of policies and customers’ interests, with the strategic objective of maximising value from the existing business. Countrywide Assured achieve this strategic aim by outsourcing their UK services to professional specialists, which is closely monitored by a central UK based governance team.

This outsourcing model creates a degree of cost variability, which is vital for a closed-book business whose size is reducing naturally over time. It’s an approach that also offers the flexibility to support and accommodate future acquisitions.

This model also supports the company's overriding philosophy of "putting the customer first". Adopting this perspective not only ensures a rewarding financial future for their customers but also supports delivery of a service that meets their needs. The company's efforts to deliver a first-class customer service were recently recognised by an Investor in Customers Silver Award 2020.

In 2023, Chesnara completed the acquisition of a closed portfolio of individual protection business from Canada Life UK. The Part VII insurance business transfer of this portfolio into CA plc was completed on 24 February 2025.

A second transaction with Canada Life UK to acquire a closed portfolio of unit-linked bonds and legacy pension business was completed in 2024. This transaction is initially executed via a reinsurance agreement, with the policies expected to transfer to the Group through a Part VII insurance business transfer process following court approval during 2025.

£157m
Economic Value
30 June 2025
£5bn1
Assets under Administration
30 June 2025
2004
Original book divested to Chesnara
172%
SII Coverage Ratio
30 June 2025

1 Includes the impact of the Canada Life portfolio acquisition, expected to part VII and migrate during 2025​

www.countrywideassured.co.uk

Movestic is one of the two parts of the Chesnara Group which deliver against the core objective “Enhance value through profitable new business”. From their Stockholm base, Movestic operates as a challenger brand in the Swedish life insurance market. They offer transparent unit linked pension and savings solutions through Independent Financial Advisors. Movestic is currently one of the most selected providers of advised occupational pension plans within the fund insurance segment in Sweden.

Movestic places great importance on providing quality service to both customers and IFAs, with simple, clear unit linked products, supported by an attractive and broad investment fund range. The aim of Movestic is to offer policyholders the best funds and management services on the market. Year after year, their customers have enjoyed good returns on their savings. This means that they can offer a real chance of a better future when the time comes for their customers’ retirement.

Movestic also has a portfolio of risk and health products which offer protection should the worst happen. Their range of policies is closely adapted to the needs of their customers, and their claims handling is one of the best in the Swedish industry.

Unlike the UK operations, Movestic manages its own servicing. An in-house model is deemed more appropriate given the focus towards tailored high quality servicing of IFA’s and the fact the business is growing.

As an “open” business, Movestic not only adds value from sales but as it gains scale, will become increasingly cash generative which will fund further growth or contribute towards the Group’s dividend strategy.

£202m
Economic Value
30 June 2025​
£6bn
Assets under Administration
30 June 2025​
2009
Original book divested to Chesnara
148%
Solvency Coverage Ratio
30 June 2025​

Scildon is based in Hilversum in the Netherlands and started trading in 1984 as Legal & General Nederland. The company has been renamed Scildon following the acquisition by Chesnara.

Scildon is a leading provider of risk and investment-linked products, sold through independent financial advisers to high net worth customers. It also offers a defined contribution group pension platform focusing on Dutch SMEs.

A successful combination of customer focus and product development has made Scildon a “top 5 player” on the Term market, market leader in Unit Linked Products and has delivered impressive growth in the field of defined contribution Group Pensions. Scildon has won several awards from the Dutch organisation of independent financial advisors, Adfiz, and was awarded “Best Individual Life Insurance” provider and “Best Group Pension Insurer” for 2017.

Scildon and Chesnara have ambitious growth plans for the company, with further product, systems and portal development anticipated to further enhance Scildon’s enviable position in the Dutch Life & Pensions market.

It’s official: as of July 2, 2025,  Scildon and Waard have joined forces.

The Dutch Central Bank has approved the transaction. Our Managing Director, Pauline Derkman, commented: “Together we are stronger in continuing to play a meaningful role in a consolidating market.” 

“Joining forces with Waard feels right,” Pauline continues. “We share the same shareholder—Chesnara plc—and both specialize in life insurance. The difference is that Scildon actively offers life insurance policies, while Waard manages them. We know each other’s products well and complement each other perfectly. By merging, we create a more agile and effective organisation.

Together, Scildon and Waard have £3bn of Assets under Administration, with a combined Economic Value of £265m as at 30 June 2025.

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