Stephen Deignan

Background

About Stephen Deignan

An experienced insurance and M&A professional and actuary, with significant expertise in life insurance covering M&A, corporate finance, capital management, investments, risk management, financial reporting and Solvency II, in the UK and across Europe. Operated at an executive leadership level with a strong track record of corporate development underpinned by solid delivery, leading on a number of areas including identifying opportunities in the market and successfully delivering these in a value enhancing manner. Driven to deliver optimal outcomes, achieving success through collaboration with stakeholders. Key recent highlights: • Led the acquisition assessment and valuation on a number of acquisitions including Canada Life (UK, portfolios in 2023 and 2024), Conservatrix (Netherlands, 2022), Sanlam (UK, 2021), Robein Leven (Netherlands, 2021), Brand New Day (Netherlands, 2020), Argenta (Netherlands 2019), Legal & General (Netherlands, 2016) and Waard (Netherlands, 2014). • To provide additional capital to support M&A activity and to lock-in to low financing costs, developed the subordinated debt raise capability and documentation, ahead of the business’ inaugural raise, including achieving Chesnara’s first credit investment grade rating. The raise was done at a coupon of 4.75% which is materially below what is currently achievable in the market (2021-2). • Capital Management: In my time as Head of Corporate Development, Chesnara’s solvency ratio grew from 146% to over 200%, whilst the business continued its M&A and dividend strategy, with the cumulative cash generation to dividend ratio of c150% • Developed and implemented the Group’s first currency hedging strategy (2022), funded reinsurance of UK annuity portfolio (2021), Dutch catastrophe reinsurance (2021), mass lapse reinsurance (2023 and 2024) and volatility adjustment approvals (2020-2021). • Led the design and implementation of the Solvency II for the Pillar 1 and Risk Management aspects (2013-2016)