HSBC Life acquisition approved for Chesnara

Chesnara said work will now progress to complete the transaction, which is slated for the end of January 2026. The acquisition of HSBC Life was announced on 3 July 2025, with Chesnara saying the deal would add around £4 billion to its assets under management, consisting of around 454,000 policies. Later that month, the consolidator raised £140 million via a Rights Issue of nearly 80 million new ordinary shares to facilitate the purchase of HSBC Life. The new shares were priced at 176p per share, Chesnara received valid acceptances for just over 70 million new ordinary shares, or ap...