Divestiture • Insurance

Chesnara Acquires Legal & General Nederland Levensverzekering Maatschappij N.V

On November 24, 2016, Chesnara acquired insurance company Legal & General Nederland Levensverzekering Maatschappij N.V from Legal & General Group for 160M EUR

Acquisition Context
  • This is Chesnara’s 7th transaction in the Insurance sector.
  • This is Chesnara’s 0th largest (disclosed) transaction.
  • This is Chesnara’s 2nd transaction in the Netherlands.

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M&A Deal Summary

Date November 24, 2016
Target Legal & General Nederland Levensverzekering Maatschappij N.V
Sector Insurance
Buyer(s) Chesnara
Sellers(s) Legal & General Group
Deal Type Divestiture
Deal Value 160M EUR

Target Company

Legal & General Nederland Levensverzekering Maatschappij N.V

Hilversum, Netherlands
Legal & General Nederland Levensverzekering Maatschappij N.V is a Dutch life and pension insurer provider. Legal & General Netherlands is covered by all Dutch laws and regulations and under the supervision of the Dutch Central Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM).
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Buyer Overview 1

Buyer

Chesnara

Preston, United Kingdom

Category Company
Founded 2003
Sector Insurance
Employees366
Revenue 1.3B GBP (2023)
DESCRIPTION

Chesnara engages in life assurance and pension businesses. Chesnara was founded in 2003 and is based in Preston, the United Kingdom.


Deal Context for Buyer #
Overall 7 of 7
Sector: Insurance 7 of 7
Type: Divestiture 5 of 5
Country: Netherlands 2 of 2
Year: 2016 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-03 Waard Group

Heerhugowaard, Netherlands

Waard Group is a Netherlands-based Group comprising three insurance companies and a servicing company. The Waard Group, comprising Waard Leven N.V., Hollands Welvaren Leven N.V., Waard Schade N.V. and Tadas Verzekeringen B.V.

Buy €70M

Seller Profile 1

SELLER

Legal & General Group

London, United Kingdom

Category Company
Founded 1836
Sector Financial Services
Employees10,799
Revenue 20.8B GBP (2024)
DESCRIPTION

Legal & General Group is a large insurance and investment management company. Legal & General is divided into four business segments. These include Legal & General Retirement, Legal & General Investment Management, Legal & General Capital, and Legal & General Insurance. Legal & General was founded in 1836 and is based in London, England.


Deal Context for Seller #
Overall 8 of 10
Sector: Insurance 5 of 5
Type: Divestiture 8 of 8
Country: Netherlands 1 of 1
Year: 2016 4 of 4
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-11 Cofunds

Chelmsford, United Kingdom

Cofunds Ltd. is an investment platform that offers pension, wealth administration and management services for financial institutions.

Sell £140M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-21 CALA Group

Falkirk, United Kingdom

CALA Group is a provider of high-quality homes in the North, East, and West of Scotland, in the Midlands, and in the South East of England, with a focus on high-quality, well-designed homes in prime locations, from starter homes to luxury detached family properties. CALA Group was founded in 1875 and is based in Falkirk, Scotland.

Sell -

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