Acquisition in Luxembourg completed

Basel, Baloise has completed its acquisition of the Luxembourg business of Belgian insurance company P&V Assurances, thereby significantly strengthening its position in the attractive Luxembourg market.

 On 17 December 2013, Baloise announced it was purchasing the Luxembourg business of the Belgian insurance company P&V Assurances. With the closing of the transaction, Baloise takes over staff of around 100 employees from P&V Assurances, together with the local non-life and life businesses. The acquisition significantly strengthens Baloise’s position in the attractive Luxembourg market and increases its market share to over 10 per cent. 

Headquartered in Basel, Switzerland, the Baloise Group is a European provider of insurance and pension solutions and has positioned itself as a market player that offers an intelligent 'Safety World' prevention strategy. In Switzerland the Company operates as a focused financial services provider, offering a combination of insurance and banking services. It also has a market presence in Belgium, Germany and Luxembourg. Its distribution network includes its own sales organisation as well as brokers and other partners. The Company uses its competence centre in Luxembourg to run its business in innovative pension products for private customers throughout Europe. Bâloise Holding Ltd shares are listed in the main segment of the SIX Swiss Exchange. The Baloise Group employs some 7,400 people.