March 31, 2017 / 6:28 AM / 4 months ago

BRIEF-Chesnara Plc posts FY pre-tax profit of 40.7 mln pounds

2 Min Read

March 31 (Reuters) - Chesnara Plc:

* FY total group cash generation of £85.4 mln (31 December 2015: £82.4 mln)

* FY IFRS profit before tax of £40.7 mln (31 December 2015: £42.8 mln)

* FY IFRS total comprehensive income of £55.4 mln (31 December 2015: £39.6 mln)

* FY group solvency ratio of 158% (31 December 2015: 146%)

* Recommended final dividend of 12.69p per share (2015: 12.33p per share)

* DNB have confirmed their non-objection to legal & general nederland acquisition which is expected to complete in week commencing 3 April 2017

* Announces Legal and General Nederland acquisition and delivers strong value growth

* Full positive impact of Legal and General Nederland acquisition will be recognised on completion in 2017 results

* Should brexit changes to regulatory requirements, then model suitably flexible for co to potentially adopt an alternative regulatory model

* Optimistic that as uncertainty due to solvency II and FCA legacy review reduces, UK acquisition market will become more active Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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