26th Aug 2021 10:16
(Alliance News) - Chesnara PLC on Thursday raised its payout and a swing to first-half profit.
The Preston, England-based pensions and insurance firm swung to a pretax profit of GBP20.8 million in the six months to June 30 from a GBP9.1 million loss a year earlier.
It posted net insurance premium revenue of GBP131.7 million, up 11% from GBP119.2 million a year earlier. Total income, net of investment return, was GBP822.2 million, swinging from a loss of GBP185.8 million in the first half of 2020.
Chesnara posted a net investment return of GBP621.3 million, swinging from a GBP370.0 million loss a year earlier.
Chesnara lifted its interim payout by 3.0% to 7.88 pence per share from 7.65p.
The company's group solvency II ratio was 153%, down from 156% in December.
Shares in the company were 0.1% lower at 285.34 pence each in London on Thursday morning.
By Eric Cunha; [email protected]
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