Chesnara Share Discussion Threads

[contrarian joe] 09/12/2019 21:53

That's a nice cup & handle!!.

[thamestrader] 27/11/2019 13:56

I've held this on and off for years, always getting a profit. This time around I'm sitting on a small loss (bought in at 297 and last week at 275), but not losing sleep.

[speedsgh] 27/11/2019 13:45

Agreed good value at current level. First bought CSN in Jun 2009, then stupidly sold for a quick profit in Sep 2009. Re-bought in 2011 and have added on dips along the way. Overweight position in the portfolio which has provided a superb total return to date which will hopefully continue. CSN - boring but beautiful :o)

[edmundshaw] 27/11/2019 11:36

Joined at around 2.77. Agree good value here, good upside potential and a lot of cashflow to come for a 7.6% dividend to protect the downside.

Last held this about ten years ago I think.

[quepassa] 26/11/2019 18:38

RCTUurner still autistically posting the same thing over and over again.

[rcturner2] 26/11/2019 17:09

I was lucky to get in here at under 270p. This is a long term buy and hold for me. I don't see any reason to sell this. There is deep value here at this price.

[linton5] 26/11/2019 12:55

Well done guys I sold last week at 273 from 262 I knew I was I inpatient was aware of a possible base forming that news last week was the matchstick

[gabsterx] 26/11/2019 12:47

Let is reach 300 first.. Chesnara has been my worst performing stock, surprising for such a steady business but I was silly enough to buy at the peak, mainly for the dividend.

Don't plan to sell any time soon so happy to collect while I wait but won't be adding more as the business is too hard to understand for me.

[rcturner2] 26/11/2019 12:21

300p will be a resistance line so need to see a break above that level.

[redips2] 25/11/2019 13:50

Xaklee.... that’s why I have been adding over the last 2 wks :)

[thamestrader] 22/11/2019 13:14

I'm no chartist, but I'm sure some might say a nice 'bowl' is forming here.

[makinbuks] 22/11/2019 11:36

Happy too. Also this:

The Transaction follows last month's acquisition and successful integration by Waard of a term life and endowment portfolio of c.6,500 policies from Monuta Insurance, also in the Netherlands.

Didn't see a RNS on that

[rcturner2] 22/11/2019 08:58

Happy with this acquisition. Increases the value here.

[jonwig] 22/11/2019 07:20

I'm quite pleased with this sort of deal: it seems to add around £30m to existing Solvency II funds of £645m and at a decent price which will enhance earnings.

Far more comfortable than mega-dealsneeding fundraisings!

Whether it will help the share price much, though...?

[epicsurf] 22/11/2019 07:16

Chesnara to acquire Dutch portfolio of term life and savings policies for €29.15 million

 

Chesnara plc ("Chesnara" or the "Company"), through its existing Netherlands-based closed book operation, the Waard Group ("Waard"), has agreed to acquire a portfolio of life insurance business in run-off from the Dutch branch of Belgian-owned Argenta Bank-en Verzekeringsgroep N.V (the "Transaction").

The Transaction will see the transfer of a portfolio of approximately 44,000 term and savings policies for a consideration of €29.15 million (approximately £25.0 million), to be paid in cash funded from existing reserves within Waard. The consideration represents a discount of 17% to the acquired portfolio's Solvency II own funds, calculated on a Chesnara-consistent basis, and a 22% discount to Chesnara's estimate of Economic Value ("EcV") as at 30 June 2019. On completion, the business will be integrated within Waard.

As at 30 June 2019, the acquired portfolio had gross assets of c.€380 million (c.£326 million). For the year ended 31 December 2018, it generated profits before tax of c.€3.7 million (c.£3.2 million).

The Transaction is expected to be both earnings and EcV accretive on completion. Chesnara estimates that the Company's EcV gain on completion will be c.€8.0 million (c.£6.9 million), and that the acquired portfolio will have a positive cumulative cash generation profile over its remaining life.

The Transaction follows last month's acquisition and successful integration by Waard of a term life and endowment portfolio of c.6,500 policies from Monuta Insurance, also in the Netherlands. It is strongly aligned with Chesnara's strategic objective of acquiring and integrating life and pensions companies and books of business within its target and value range, while supporting the Company's ongoing dividends.

The proposed transaction is subject to customary approvals from the National Bank of Belgium ("NBB") and from the Dutch Central Bank ("DNB") for the change of control. Antitrust clearance from the Netherlands Authority for Consumers and Markets (ACM) is also required. It is expected to complete in summer 2020.

John Deane, Chief Executive, Chesnara stated: "This is a very pleasing acquisition for Chesnara. It will create material operating synergies with the existing Dutch business and, after the Monuta portfolio, it is the second deal that will be integrated into, and add value to, our Dutch closed-book platform Waard Group.

"The business is well capitalised, cash generative and profitable, while fulfilling our acquisition strategy of being economic value accretive, operating within our core target markets and offering a strong strategic fit at an attractive discount. 

"We have a tried and tested track record of safely and efficiently transferring in and servicing books of business to the best interests of customers and policyholders and continue to seek out appropriate transaction opportunities on behalf of our loyal shareholders."

[linton5] 04/11/2019 11:41

Looks interesting at this price cracking divi as well,right off to the bank for some readies

[tole] 25/9/2019 15:15

Starting to pick up a few up here

[gabsterx] 24/9/2019 16:34

New 5 year low.. My worst investment so far.

[chairman2] 24/9/2019 14:41

is it dividend washing?

[luderitz] 20/9/2019 20:16

Well if the volume graphs on here are accurate something must have been going on out of the ordinary.

[keith95] 20/9/2019 16:57

Uncrossed trade at 271 for 10 Million .... seller done?

[keith95] 20/9/2019 16:56

Uncrossed trade at 271 for 10 Million .... seller done?

[thamestrader] 20/9/2019 15:39

It was a buy, but I agree, the standard format is dreadful, and could be very easily improved by separating the acquisition/disposal question into two separate questions. So obvious that I guess there must be a good technical reason why they don't.

[luderitz] 20/9/2019 14:38

Was that a buy this morning by Standard Life, those announcements aren’t exactly very instantly understandable.