Bank of Scotland Owner Lloyds Inks £96m Deal to Sell Scottish Widows Europe

Bank of Scotland owner Lloyds inks £96m deal to sell Scottish Widows Europe

“We are pleased that another major financial institution, Lloyds Banking Group, has chosen us to look after their policyholders” – Steve Murray, Chesnara

Lloyds Banking Group offloads Scottish Widows Europe for nearly £100m

It has sold the business to FTSE 250 firm Chesnara

Chesnara acquires Scottish Widows Europe for €110m

Life and pensions firm Chesnara has acquired Scottish Widows Europe, a Luxembourg-based closed life insurance business, from Lloyds Banking Group for €110m, it announced today. The acquisition adds roughly €1.7bn of assets under administration and approximately 46,000 in-force policies to Chesnara. The deal means Chesnara’s entrance into Luxembourg, which it said represents an “additional attractive market”, while the addition of new policyholde…

Chesnara acquires Scottish Widows Europe SA

Chesnara plc is pleased to announce that it has entered into an agreement to acquire 100% of the issued share capital of Scottish Widows Europe SA, a Luxembourg based closed life insurance business, from Scottish Widows Limited(a subsidiary of Lloyds Banking Group plc for total cash consideration of €110 million. Acquisition Highlights ·    Cash generation of ~€250 million over the lifetime of the policies held in the Scottish Widows Europe port…

Lloyds offloads Scottish Widows Europe in £100m deal

Lloyds Banking Group has offloaded its European life insurance business to FTSE 250 firm Chesnara in the latter’s second major deal with a UK bank. The FTSE 100 banking giant – which posted a hefty profit jump last month for the 2025 financial year – has inked a €110m (£96m) deal with Chesnara for Luxembourg-based Scottish Widows Europe. Chesnara said the acquisition would add around €1.7bn in assets under administration and about 46,000 in-forc…