**Summary**
Chesnara PLCs 2025 full-year results highlight a transformative year marked by strategic acquisitions, robust financial performance, and operational excellence. The company reported significant growth across key metrics, driven by disciplined operational delivery and exceptional capital markets activity.
**Financial Highlights**
**Cash** Operating Capital Generation (OCG) increased by 19% to £94m, and Cash Remittances rose by 30% to £58m.
**Capital** Solvency Coverage Ratio improved to 257%, and Own Funds grew by 34% to £859m.
**Value** Adjusted Operating Profit (AOP) surged by 42% to £56m, and Assets under Administration (AUA) increased by 10% to £15bn.
**Strategic Milestones**
**Acquisitions** Completed the acquisition of HSBC Life (UK) in January 2026, rebranded as Chesnara Life, and announced the acquisition of Scottish Widows Europe SA in February 2026, expanding into Luxembourg.
**Integrations** UK integrations, including Chesnara Life, are progressing well, and Dutch entities were successfully merged, simplifying the footprint.
**Capital Raises** Successfully raised £140m in equity and £150m in RT1 bonds, supporting future growth and M&A activities.
**Dividend** Recommended a 6% increase in the final dividend to 14.80p per share, with a total dividend for FY 2025 of 22.50p per share.
**Operational Performance**
**UK** Continued implementation of the Transition and Transformation program, with four migrations completed and planning underway for Chesnara Life integration.
**Sweden** Strong growth in the custodian business, supported by new partnerships and distribution agreements.
**Netherlands** Completed the legal merger of Scildon and Waard, with further integration planned to realize synergies.
**Sustainability**
Published the first Climate Transition Plan in September 2025, outlining steps to achieve net-zero emissions by 2050.
**Outlook**
The company expects further opportunities for growth, supported by a robust M&A pipeline and a strong track record of disciplined execution. The addition of Chesnara Life and Scottish Widows Europe SA is anticipated to enhance resilience and long-term Operating Capital Generation potential.
Chesnaras 2025 results demonstrate its ability to deliver strong financial performance while executing strategic initiatives, positioning the company for continued growth and value creation.
| Metric | FY 2025 | FY 2024 | % Change |
|---|---|---|---|
| Operating Capital Generation (OCG) | £94m | £79m | 19% |
| Cash Remittances | £58m | £45m | 30% |
| Solvency Coverage Ratio | 257% | 203% | 54ppts |
| Own Funds | £859m | £643m | 34% |
| Adjusted Operating Profit (AOP) | £56m | £39m | 42% |
| Assets under Administration (AUA) | £15bn | £14bn | 10% |
| IFRS Profit Before Tax | £19m | £21m | (9%) |
| IFRS Capital Base | £694m | £449m | 55% |
| Leverage | 22% | 31% | (29%) |
Note: Debt information is not explicitly provided in the text, but the Leverage ratio is included as a proxy for debt levels.
This table compares the key financial metrics for Chesnara PLC between FY 2025 and FY 2024, showing the percentage change year on year. The leverage ratio is included as a proxy for debt levels, although explicit debt figures are not provided in the text.