Baloise sells its subsidiaries in Croatia and Serbia

Basel, The Baloise Group is selling its businesses in Croatia and Serbia to the Austrian UNIQA Group. Representatives of the two companies have signed a purchase agreement for EUR 75 million.

In Croatia, "Basler osiguranje Zagreb" provides a comprehensive range of insurance solutions for private and business customers. Until now, Baloise has been present in Serbia with "Basler osiguranja", which focuses on the market for private customers. The two subsidiaries achieved a combined business volume of CHF 68.4 million in 2012.

The UNIQA Group is one of the leading insurance groups in its core markets in Austria and Eastern Europe. UNIQA is the strongest insurance brand in Austria and is very well positioned in the Central and Eastern European (CEE) markets.

Baloise now intends to focus its activities even more on its core markets. With the acquisition, UNIQA is strengthening its position in the south-eastern region of Europe and the Croatian and Serbian markets.

Baloise anticipates a one-time loss of CHF 30 million to result out of this transaction, which is expected to be concluded in 2014. The transaction is subject to the approval of the supervisory authorities.

The Baloise Group is more than just a traditional insurance company. The changing security, safety and service needs of society in the digital age lie at the heart of its business activities. The 7,300 or so employees of Baloise therefore focus on the wishes of their customers. The best possible customer service, combined with innovative products and services, makes Baloise the first choice for people who want to feel ‘simply safe’. Located at the heart of Europe, with its head office in Basel, the Baloise Group is a provider of prevention, pension, assistance and insurance solutions. Its core markets are Switzerland, Germany, Belgium and Luxembourg. In Switzerland, with Baloise Bank SoBa, the Group also operates as a specialised financial services provider, offering a combination of insurance and banking services. The Group offers innovative pension products to retail customers throughout Europe from its competence centre in Luxembourg. Bâloise Holding Ltd shares are listed in the main segment of the SIX Swiss Exchange.