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Chesnara (CSN)

Practical discussions about equity High-Yield Portfolios (HYP) for income
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Tight HYP discussions only please - OT please discuss in strategies
Dod101
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Re: Chesnara (CSN)

#248291

Postby Dod101 » August 31st, 2019, 9:18 am

My understanding is also a bit outdated but I guess the principles we are commenting on are unchanged. I suspect the main issue though has to be for the Appeal to be heard and depending on the outcome the Pru might even be looking for new reinsurers because its regulators are surely going to look carefully at its reinsurers.

However whether any of this will impact on Chesnara of Phoenix I would not know. Time will tell.

Dod

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Re: Chesnara (CSN)

#248329

Postby PrefInvestor » August 31st, 2019, 12:23 pm

Hi All, I used to hold CSN before I culled nearly all of my individual stock holdings and moved over to ETFs and ITs. CSN were just under 400 when I sold as I recall, cant say that I am unhappy that I didn’t stick around for their subsequent journey. The last 6 weeks seems to have been particularly bad, dropping from ~360 to ~280 ie about 22%. Not being a HYPer I find a 7.3% yield to be insufficient incentive to hold a stock suffering such a significant capital loss.

ATB

Pref

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Re: Chesnara (CSN)

#248345

Postby PrefInvestor » August 31st, 2019, 2:00 pm

Hi All, Sorry I'm just experimenting with posting an images from imgur with this post, so have posted a chart of CSN vs the FTSE 100 which I created as an example. So hopefully at least vaguely relevant..........

Image

Whoops didnt notice that this was the HYP Practical board (just responding to a post in New Posts) so apologies for the reference to HYPers in my previous post. No offence meant !.

Pref

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Re: Chesnara (CSN)

#250569

Postby PrefInvestor » September 9th, 2019, 5:27 pm

9-Sep-2019 Down a further 3.6% today to 266.5 I'm afraid.

Pref

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Re: Chesnara (CSN)

#266256

Postby monabri » November 22nd, 2019, 11:39 am

"Chesnara plc ("Chesnara" or the "Company"), through its existing Netherlands-based closed book operation, the Waard Group ("Waard"), has agreed to acquire a portfolio of life insurance business in run-off from the Dutch branch of Belgian-owned Argenta Bank-en Verzekeringsgroep N.V (the "Transaction").

The Transaction will see the transfer of a portfolio of approximately 44,000 term and savings policies for a consideration of €29.15 million (approximately £25.0 million), to be paid in cash funded from existing reserves within Waard. The consideration represents a discount of 17% to the acquired portfolio's Solvency II own funds, calculated on a Chesnara-consistent basis, and a 22% discount to Chesnara's estimate of Economic Value ("EcV") as at 30 June 2019. On completion, the business will be integrated within Waard."


https://www.londonstockexchange.com/exc ... 18757.html


New board for CSN, here

viewtopic.php?p=266249#p266249


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