In brief: Baloise and Helvetica merge

A new insurance giant has just emerged, in Switzerland but also in Europe. It is the result of the official merger between Balise And Helvetica. This new group is the second largest insurance group in Switzerland, covering a market share of around 20%.

Baloise and Helvetia have just cut short the rumours that have been increasing lately to officially announce their union as part of a merger.

The new band was named Helvetica Baloise. It estimates that it can generate a turnover of 20 billion Swiss francs (almost 21.5 billion euros) spread over 8 markets. In addition to the existing cost optimisation plans, the new group is expected to generate cost synergies of around CHF 350 million (almost €375 million) before taxes and without impact related to profit sharing.

In addition to its new position as Switzerland's second largest insurance group, this new player also wants to be among the largest in the sector at European level.

Helvetica Baloise will be listed on the SIX Swiss Stock Exchange under the name "Helvetia Baloise Holding SA".

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate