Chesnara sees value rise

Business news from the Lancashire Evening Post

Business news from the Lancashire Evening Post

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A life insurance company with its headquarters on Preston docks has seen its value rise.

Chesnara, which buys closed life assurance funds, said its European Embedded Value (EEV) - the measure of its value - rose to £305.8m, up 4% in the nine months to September 30.

It saw pre-tax profits rise to a profit of £20.1m, compared to a £8.9m loss 12 months earlier.

The firm has its head office at Harbour House on Portway on the city’s docklands.

In its interim management statement on Friday, the company said: “We continue to see a number of potential acquisition opportunities and we will readily progress these if we see value and a clear strategic fit.

“While we remain open-minded as to location in the UK and Western Europe, we will continue to apply strict financial and risk criteria in assessing them.”

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