Chesnara sees profits rise in ‘volatile’ market

CHESNARA, the Preston-based holding company for the life insurer Countrywide Assured, has seen interim pre-tax profits lift 7% to £12m.

The group, which also operates the Swedish life assurer Moderna, said market volatility had continued to affect its trading performance.

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Chief executive Graham Kettleborough, said: “The resilience of our underlying business has again enabled us to deliver strong results in the face of volatile investment market conditions.”

“We continue to search for further acquisitions and are seeing a reasonable flow of opportunities. Once again, our financial strength allows the board to deliver on our promise of a reliable and progressive dividend stream by proposing a 2.65% increase in the interim dividend to 5.8p per share.”