News

New client appointment: Chesnara plc

03 November 2009

Collins Stewart is pleased to announce that it has been appointed as joint corporate broker to Chesnara plc (CSN.L).

Collins Stewart has been appointed alongside Panmure Gordon, with the appointment effective immediately. Hawkpoint is Chesnara’s existing financial adviser.

Chesnara is a £186m market-cap company, which listed on the London Stock Exchange in May 2004, and owns Countrywide Assured plc ("CA") and Moderna Försäkringar Liv AB ("Moderna"). CA is a life assurance subsidiary that is substantially closed to new business. In June 2005 Chesnara acquired a further closed life insurance company – City of Westminster Assurance ("CWA") – for £47.8m. With effect from 30 June 2006, CWA's policies and assets were transferred into CA plc. Moderna was acquired on 23 July 2009 for £20m. The company continues to attract new business and grow the strong position it has achieved in the Swedish unit-linked market since its launch in 2002.

The pitch team was Ben Cohen and Robin Savage (Equity Research), Jasper Berry and Roy Campbell (Sales) and Adrian Hadden and Tom Hulme (Corporate Broking) with support from Hugh Elwes at Hawkpoint. The account team in Corporate Broking will be Adrian Hadden, Tom Hulme, Lorraine Delannoy and Owen Price.

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