Chesnara Share Discussion Threads

[jonwig] 12/3/2020 14:20

There's discussion on the PHNX thread which might be relevant.

[fenners66] 12/3/2020 12:56

Compared to the market CSN holding up quite well.

Is this because they deal in annuities and an increased death rate of annuitants is financially supportive for CSN ?

[deadly] 03/3/2020 18:29

OK but that's very much a minority, albeit a rich minority.

[jimbox1] 03/3/2020 18:03

Life assurance has a role in inheritance tax planning. If policy is written in trust, proceeds may fall outside of the estate for IHT purposes and may be paid out independently of probate process. Proceeds can perhaps be used to settle IHT bill too.

[deadly] 03/3/2020 16:56

The over-70s who are more likely to die shouldn't have much, if any, life insurance: Why would they pay for it? Not for their mortgages, nor to cover lost income for a spouse. Only a bit for funeral expenses possibly.

[joan of arc] 27/2/2020 13:31

I was just asking a question. It seems Jonwig has the answer. It seems that most people who die are over 70 and therefore will represent a potentially much higher percentage than the projected 1.5% - 3% of the general population. What this might quantify at for profits is anyone's guess.

[al101uk] 25/2/2020 21:27

That's what I said, JoA said the opposite:

"If people's life expectancy reduces due to the coronavirus doesn't this work to CSN's advantage?"

edit - Sorry - you were agreeing with me, I miss read your post :-)

[jonwig] 25/2/2020 18:41

From their last final results;

If mortality or morbidity experience is higher than that assumed in pricing contracts (I.e. more death and sickness claims are made than expected), this will typically result in less profit accruing to the group.

[al101uk] 25/2/2020 18:23

Sorry, trying to work out the logic, if they are predominantly life insurance and people die earlier than expected, how is that good for Chesnara, particularly if they "don't do much in annuities"?

[jonwig] 25/2/2020 17:14

I don't think they do much in the way of annuities (JoA would be right then), but it's down less than the market today.

[al101uk] 25/2/2020 15:56

JOA,

I was thinking the opposite, aren't Chesnara a closed life company predominantly? I know they hold pensions as well.

Still hold, reduced a little early today on the off chance of getting back in somewhere below £3. I don't think the move today is anything more than following the general market.

[joan of arc] 25/2/2020 15:39

If people's life expectancy reduces due to the coronavirus doesn't this work to CSN's advantage?

[zeppo] 16/2/2020 08:33

jonwig

Thank you for the warning!

[jonwig] 16/2/2020 07:22

I suggest no-one clicks on that!

Look at the flood of posts between 03:10 and 03:24.

[luderitz] 15/2/2020 22:03

Old news but thank you.

[entropick] 15/2/2020 21:10

Life insurance consolidator Chesnara (CSN) has a new chairman. Luke Savage, who has held top finance roles at both Standard Life Aberdeen and Lloyd’s of London, will take over from Peter Mason – who announces his retirement today. Mr Savage is already a non-executive director at broker Numis (NUM) and law firm DWF (DWF). Buy.

[speedsgh] 14/2/2020 09:23

Directorate Change -

CHESNARA APPOINTS NEW CHAIRMAN

Chesnara today announces the retirement of Peter Mason as Chairman of Chesnara plc and the appointment of Luke Savage as Non-Executive Director and Chairman, with immediate effect.

Mr Savage will also serve as Chairman of the Company's Nominations and Governance Committee, and as a member on its Remuneration Committee.

A highly experienced Plc director, largely in the financial risk and insurance sectors, he previously served as a director and Chief Financial Officer of Standard Life Aberdeen plc from 2014-2017 and for ten years prior to that as Director of Finance and Operations at Lloyd's of London. His career has also included senior roles with leading financial institutions such as Deutsche Bank, Morgan Stanley, Lloyds Bank and Price Waterhouse (now PwC). He is a qualified Chartered Accountant (ACA from ICAEW). Mr Savage is currently a Non-Executive Director of Numis Corporation plc, DWF Group plc and Liverpool Victoria Financial Services Limited.

Jane Dale, Senior Independent Director, commented:

"I am delighted that we have been able to recruit Luke as our next Chairman upon the retirement of Peter. His credentials in the insurance and risk markets are superlative and he will bring this level of expertise to bear on both Chesnara plc and the wider group.

"Under Peter's time at the group, Chesnara has expanded into Sweden and the Netherlands and delivered 14 years of unbroken dividend growth. We are very grateful to Peter for all his hard work since being appointed to the Board in March 2004 and as Chairman in January 2009. We wish him a long and happy retirement."

Luke Savage, incoming Chairman, added:

"Chesnara is a very well placed and successful group operating in the life and pensions markets in its established segments of the UK, Netherlands and Sweden. I am excited to be taking on the role of Chairman at this stage of the Company's development and look forward to working with the Board and our strong management team lead by Group Chief Executive John Deane, to continue the delivery of value to our customers, shareholders and wider stakeholders."

[eggbaconandbubble] 13/1/2020 10:42

fenner, teacakes are great but don't stop taking the medication!

[fenners66] 13/1/2020 10:04

Teacakes and medication...

[al101uk] 10/1/2020 12:40

hxxps://www.investopedia.com/terms/c/cupandhandle.asp

[pvb] 10/1/2020 11:19

Apologies for the ignorance but what is expected after a cup and handle?

Teacakes?

[rcturner2] 10/1/2020 11:01

There is this amazing thing out there called google ...

[makinbuks] 10/1/2020 11:00

Apologies for the ignorance but what is expected after a cup and handle?

[eggbaconandbubble] 09/1/2020 16:56

Quite possibly!