Chesnara has told Health & Protection that it intends to retain HSBC Life UK’s value-added services post-acquisition.
The life and pensions company bought the bank’s UK life interests for £260m in a deal that closed in February.
The protection product has since been closed to new business, but the company has confirmed that it will continue to provide the benefits for existing customers.
A Chesnara spokesperson said there is “no plan to discontinue” HSBC Life UK’s value-added services post-acquisition.
“Chesnara recognises the value of these services to its customers and has no intention of removing them,” they added.
It also pledged to maintain high levels of customer service post-acquisition – an issue which has been raised around the wider industry.
“Chesnara, its subsidiaries and third parties have a strong reputation for delivering excellent customer service,” the spokesperson continued.
“As part of the acquisition, we are committed to maintaining those standards for all newly acquired customers as well as existing customers.”
The life and pensions company has previously announced that the Chesnara Life onshore bond remains open for new business, while the acquirer sees further opportunities to expand distribution partnerships in this space.
The acquisition of HSBC’s UK life business gave Chesnara an additional 432,000 protection policies taking its total to around 1.4 million.
