RBC Capital Markets has increased its cash generation forecasts for Chesnara PLC following recent acquisitions, boosting dividend coverage to about 1.8 times and extending the dividend runway beyond ten years. The acquisitions of Chesnara Life and Scottish Widows Europe have significantly improved the group's cash flow, with a 2027 operating capital generation forecast of approximately £117 million. RBC highlights an attractive and sustainable 8.1% forward dividend yield, ranking Chesnara second in the UK life insurance peer group for dividend coverage. The balance sheet remains flexible with over £100 million in deployable capital, and management expects further acquisitions, particularly in the Benelux region, within the next 12 to 24 months. RBC slightly lowered its price target to 360p but sees around 20% upside from the current 300p share price.
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