Ashurst is advising Chesnara on its £62 million acquisition of Direct Line Life Insurance Company Limited (DLL) from Direct Line Insurance Group plc. Chesnara is paying £39.3 million for DLL, with the remaining value being taken as a pre-sale dividend.

This deal marks another acquisition by Chesnara in the closed life company market, and is further proof of the company's ability to execute such deals successfully.

Ashurst's relationship with Chesnara began 10 years ago , before the Company's listing in 2004. Ashurst advised on Chesnara's last major deal, the acquisition of Save & Prosper in 2010.

The Ashurst team is led by corporate partner James Perry, assisted by partner Karen Davies, associate Kate Doody, solicitor Jessica Higginson, commercial counsel Brian Murphy and associate Aimée Chalmers. Tax advice was provided by partner Nicholas Gardner and solicitor James Seddon. Senior associate, Ruth Buchanan advised on employment issues. Banking associate David Collins, pensions associate Andy Wright and regulatory associate Nicola Higgs also advised.