- Following the acquisition of Direct Line Life Insurance Company (now called Protection Life), Chesnara has announced that today UK Court clearance was granted for the transfer of the long-term business of Protection Life into Countrywide Assured, a subsidiary of Chesnara, on the 31 December 2014.

Commenting on the Court clearance, Graham Kettleborough, Chief Executive of Chesnara plc, said:

'We are very pleased with the outcome of our application to transfer the Protection Life businesses into our subsidiary, Countrywide Assured plc. Protection Life will be fully integrated in operational terms and we expect the additional synergies generated as a result of this successful transfer to assist us in maintaining an attractive dividend yield for our shareholders.'

At 12:38pm: [LON:CSN] Chesnara PLC share price was +3.13p at 322.38p

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