LIFE insurance consolidator Chesnara is chasing growth in the Dutch market with the purchase of Waard Group for €67.8m (£53.4m).
The company described the Waard Group businesses as strongly capitalised, noting that “the potential for phased, orderly capital extraction is a key attraction of the acquisition”.
Graham Kettleborough, Chesnara’s boss, said he was “very excited” about the deal
Chesnara also revealed yesterday that Kettleborough had resigned from the company, although he remains in his role until “at least” 31 December of this year.
He will also provide support and consultancy until 31 March 2015 to ensure a smooth handover to his successor, John Deane, whose appointment was unveiled yesterday.