At a glance
- The price was not disclosed.
- The transaction moves a run-off book of UK life liabilities onto Chesnara's balance sheet.
- A share purchase transfers the whole entity, including the reserves and the assets backing them, rather than a portfolio of policies.
Chesnara plc agreed to acquire MetLife UK Ltd., a UK closed-book insurer owned by MetLife Inc., AM Best reported on Nov. 6, 2026. The price was not disclosed.
The transaction moves a run-off book of UK life liabilities onto Chesnara's balance sheet. Chesnara, a European life and pensions consolidator, would run the investment portfolio alongside its existing European assets rather than through MetLife's UK operation.
A share purchase transfers the whole entity, including the reserves and the assets backing them, rather than a portfolio of policies.
For advisors with clients holding MetLife UK policies, the backing entity becomes Chesnara once the share purchase closes. The deal is a share-capital transfer, not reinsurance, and no completion date was disclosed.
Reported by the Insurer portfolios desk from AM Best News. Published . Corrections