Preston's Chesnara still hunting for acquisitions after Direct Line Life takeover

Preston-based insurance specialists Chesnara says its takeover of Direct Line Life has attributed to a strong quarter.

The takeover firm bought Direct Line Life for £39.3 million in October and says it is still on the hunt for Western European insurers to buy up.

Chesnara reported European Embedded Value pre-tax profit of £57.5 million, up from £29.5 million a year ago.

The global investment market had continued to have a positive impact on the firm’s performance.

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