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, Direct Line Life and Sanlam.
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 and 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.
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 announced 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 2026.
CA plc, in the UK, remains open to new business with its onshore bond via third party platform links and this market position has been further strengthened through the acquisition of HSBC Life (UK) in 2026 now rebranded as Chesnara Life.
