Our company history

Safety is our principle: On 2 May 2013, the former Basler Feuer will celebrate its 150th anniversary.

Today Baloise Group has offices in eight countries, but in 1938, at the peak of its geographical expansion, it was operating in over 100 locations in every corner of the world. Even with changing customer needs, there is one principle to which Baloise has always remained faithful: The principle of safety, together with growing expertise and intelligent solutions. Safety remains our principle, inseparable from our values: “Swissness”, “innovation” and “partnership”.

 The 21st Century - Assured safety for the future

2010   Groupwide repositioning
With the acquisition of Avéro Benelux in 2002, Baloise gained access to the Walloon part of Belgium.
With the program "Baloise 2012", which was launched in 2009, Baloise repositioned itself across the Group, while "Safety World" puts all-round safety at the fore of company performance: "Making you safer". Baloise Group is thus reaffirming its company motto "Safety is our principle" – from the past and into the future.
 
2005   Operational excellence and profitable growth
With its strategy of operational excellence, Baloise ensured long-term improvement of the business. In 2006, Baloise Luxembourg acquired Winterthur Europe Vie, and in 2007, a greenfield operation was started in Serbia with the acquisition of Osiguranje Zagreb. Baloise Life (Liechtenstein), which specialises in innovative unit-linked life products, was founded in Balzers/Liechtenstein. In 2008, all German Baloise companies and Deutscher Ring Leben / Sach were joined under one management with headquarters in Bad Homburg.
2002   In the black again after a difficult year; international subsidiaries with brisk activity
After the memorable events in 2001 and the collapse of the financial markets after the terrorist attacks in the United States, Baloise reported its only loss-making year in 2002. By in 2003 Baloise was back on track, strengthening the business in its core markets. Baloise took over German insurance company Securitas and merged it with its own subsidiary to form Basler Securitas. Deutscher Ring Leben / Sach set up branch offices in the Slovak and the Czech Republics.
2000   Taking the first steps in the new millennium as a dedicated financial services provider
The new century began with some major developments within the Group that find their reflection in the current strategic direction of the companies.
In 2000 Baloise acquired Solothurn SoBa Bank, now Baloise Bank SoBa, which was the first step on the way to a business model as dedicated finance service provider. The same year saw the foundation of Baloise in Zagreb.

 
The 20th Century – Growth and Consolidation

1990   Fifteen years after restructuring; takeover attempt successfully thwarted
The 1990s were turbulent years for Baloise, with exits from Italy, France and the United States. Rhein Rück, which was acquired in 1991, was sold again in 1997. The sale of the Spanish business followed in 2001, and with the sale of Mercator Bank in 2004 the restructuring was complete. From 1991, Baloise started listing all major shareholders in its annual reports, which revealed some interesting facts: At different times and independently of each other, two major shareholders held more than 40% of the shares – due to statutory voting restrictions they were entered in the shareholder register with just 2% of votes each. The takeover attempt was thwarted in 2003 and subsequently the largest shareholder, a nominee, held just 3.8% of Baloise shares. 
1971   The current corporate structure is established
In 1971, the Baloise companies merged from Basler Feuer, Transport und Unfall into "Basler Versicherungs-Gesellschaft" (Baloise Life Insurance Company). For reasons of prudential control, "Basler Lebens-Versicherungs-Gesellschaft" remained an independent subsidiary. In the 1980s, Baloise expanded in other European countries, including Austria in 1983 with the founding of the “Basler Versicherungs-Aktiengesellschaft in Österreich” (Baloise Insurance Company in Austria). In 1985 German company Deutscher Ring Leben/Sach was acquired and in 1986 Baloise became majority shareholder of Belgian company Mercator in Flanders. Baloise Insurance Company of America was founded in 1985 and Providence Washington Insurance Company was acquired in 1988. The motto of the 125th anniversary was "Safety for more joie de vivre".
1962   Foundation of Baloise Holding in Basel, subsequently headquartered in Bad Homburg
To minimize the risks between the various Baloise insurances companies, Baloise Holding was founded in 1962. It serves as an umbrella for all international subsidiaries, with headquarters in Basel. In 1968, the German companies moved into their new headquarters in Bad Homburg.
1945   Recovery in Western Europe and new growth spurt
In the wake of the rapid economic recovery in Western Europe, Baloise was able to successfully reposition itself across Europe as an insurance company. With further advances in technology and increasing national wealth, ever more valuables needed protection against risks. Minority interests were acquired in Peru, Venezuela and Ecuador. In 1958, Basler Unfall (Baloise Accident Insurance) was founded, which had previously been part of Basler Leben.
1939  

Europe again faces misery of war; Basler withdraws to Swiss National Redoubt
At the beginning of World War II, the new business of the Baloise companies was brought to a temporary halt. Making a virtue out of necessity, they focused on the domestic insurance business, which resulted in the largest injection of capital since the founding of the company. People still had an overwhelming need for safety. In 1938 events in Basel escalated: evacuation of some sections of corporate headquarters began on 19 September: Securities were transported to Fribourg; while some 115 tonnes of files and policies were transported to a chalet complex in Saanen-Gstaad, which was guarded by the Swiss army and had a specially built underground vault system. On 2 September 1939, the day of general mobilization, many Baloise employees had to enlist for military service. In 1945, the Berlin headquarters was relocated: Basler Leben via Frankfurt/Main to Camberg and then back to Frankfurt/Main, Basler Feuer Hirschau to Freiburg/Breisgau.
1914  

Turmoil of war and disruption of growth phase
The flowering of the insurance market came to an abrupt halt with World War I. The Baloise companies suffered from severe disruption to its international business. At the end of World War I, Switzerland, like other countries, was hit by a flu pandemic and the sharp increase in mortality rates put additional pressure on the business.
The post-war period also proved difficult, with the companies primarily fighting the effects of monetary inflation. In addition, large physical assets were destroyed during the war, for which insurance coverage was no longer needed. In the mid 1920s the crisis appeared to have bottomed out; however, this development was not sustainable. In the early 1930s the world economy slipped back into a deep crisis that was marked by high unemployment on the one side and an abundance of capital on the other. During this period, the Baloise companies realised the usefulness of the real estate and building trade. In France and Spain, Baloise was co-founder of La Cordialité Basel (1921) and Compañía Vascongada (1929), while Basler Feuer and Basler Transport entered the Luxembourg insurance market in 1933.
1900   Technology as the driving force for business and exiting the United States
At the beginning of the last century, Europe experienced a welcome economic rise, in which Basler Versicherungen (Basler Insurance) participated with its various insurance companies. At the same time, our continent was transformed by the phenomenal success of technology, with living conditions improving considerably within a short period of time. With the increasing advances in technology came new dangers that threatened people’s material livelihood. In the first decade after the turn of the century, the Baloise companies introduced some new, products that took care of these needs, such as an insurance against burglary.
In the United States, Basler Feuer reorganised its portfolio and from 1901 made attempts at withdrawing from parts of the United States. However, they wanted to hold on to the profitable Pacific Coast business. Since the Federal Insurance Office in New York refused to allow withdrawal while Baloise still had a single policy anywhere in the United States, the Pacific Coast business was also sold, albeit with a heavy heart. This, however, turned out to be a blessing in disguise: in 1906 San Francisco was destroyed by a severe earthquake. By that time, Basler Feuer had already long withdrawn from the United States.


The 19th Century – Foundation and Positioning

1869   Baloise gets its own reinsurance company and the leap across the pond
1869 saw the foundation of the "Basler Rückversicherungs-Gesellschaft" (Basler Reinsurance Company)", under the auspices of the "Basler Transport-Versicherungs-Gesellschaft" (Basler Transport Insurance Company). With the foundation of “Basler Leben” (Basler Life), the accident insurance business was added to the portfolio.
As its activity expanded in scope, Basler Feuer soon had offices in Hamburg, Bremen, Constantinople (today’s Istanbul), Alexandria, Smyrna (today’s Izmir), Yokohama, Mexico, Buenos Aires and Rio de Janeiro. In the interest of shareholders, businesses that were not profitable were divested again a few years later. In 1874 a subsidiary was established in Austria, and in 1891 Basler Feuer was doing direct business with San Francisco.
1864   Expansion of operating activities and European expansion
In 1864 Basler Feuer expanded into two further areas of business. By offering insurance of transport and life, the original aim of operating the insurance business "in all its branches and directions" was to be pursued further. The new companies were named for their purpose: "Basler Lebens-Versicherungs-Gesellschaft" (Basler Life Insurance Company) and "Basler Transport-Versicherungs-Gesellschaft" (Basler Transport Insurance Company). Where possible and not prevented by monopolies or restricted by quotas, other cantonal permits quickly followed.
With the acquisition of other cantonal portfolios, first in the Grisons, followed by Geneva, Zurich and Valais, the young Baloise soon achieved considerable growth in Switzerland. On 4 August 1864 Basler Feuer received its operating license for the Grand Duchy of Baden, on 29 March 1886 it was given operating approval for the Kingdom of Saxony, the final license from the former German national states. Other countries followed: Denmark, Sweden, Norway, Great Britain, France, Italy and the Danubian principalities in what is now Romania.
1863   The great fire of Glarus and the founding of Basler Feuer
On 2 May 1863, the "Basler Versicherungs-Gesellschaft gegen Feuerschaden" (“Basler Insurance Company against Fire Damage”) received cantonal approval by the Upper house of the canton of Basel-Stadt. The company’s foundation was prompted by the devastating great fire of Glarus in 1861, which heralded the foundation of several Swiss insurance companies.

 

Contact

Baloise Group
Aeschengraben 21
4002 Basel
Switzerland

Phone +41 58 285 85 85
Fax +41 58 285 70 70

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Bâloise Holding Ltd
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