Company Overview
Chesnara plc is the quoted holding company of Countrywide Assured plc and other associated subsidiaries.
Countrywide Assured plc (“CAplc”), the principal operating subsidiary of Chesnara plc, was established in 1988 as the life assurance division of Countrywide Assured Group selling mortgage-related life assurance products through Countrywide Assured Group’s financial services division. In August 2003, CAplc was substantially closed to new business following the implementation of a distribution agreement between Countrywide Assured Group’s financial services division and Friends Provident. This agreement was established in August 2002 following Countrywide Assured Group’s decision to switch new business from CAplc to Friends Provident. In 1995, CAplc acquired Premium Life, a life assurance company, and integrated it into its existing operations. CA plc manages an existing book of life assurance policies, personal pensions and long-term care products; it continues to service its existing clients and markets Guaranteed Income and Guaranteed Growth Bonds. Chesnara is based in Preston and employs approximately 195 people. It administers approximately 230,000 policies, most of which are either non-linked term assurance, unit-linked endowment policies and guaranteed bonds.