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(Sharecast News) - Life and pension consolidator Chesnara has received regulatory approval for its 260m acquisition of HSBC's UK life insurance manufacturing business.
The deal, first announced in July, includes all in-force life insurance policies and investment products written by HSBC Life UK.
According to Chesnara at the time of the agreement, the transaction will add around 4bn of assets under administration and 454,000 policies.
"Chesnara is pleased to announce that the proposed acquisition has received UK regulatory approval and work will now progress with a view to completing the transaction at the end of January 2026," the company said in a statement.
The firms said in July that around 230 roles supporting HSBC Life UK were expected to transfer to Chesnara.
Chesnara's stock was up 0.4% at 282.03p by 1545 GMT.
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