Sale of Basler Austria completed

Basel, The Baloise Group has completed the sale of Basler Versicherungs-Aktiengesellschaft in Austria to Helvetia Group.

On 15 May 2014, Baloise announced that, as part of its strategy of focusing on core markets, it was selling its Austrian subsidiary to Helvetia for CHF 160 million. The transaction is expected to generate a one-off profit of around CHF 70 million in the second half of 2014.

Going forward, Baloise will increase its focus on profitable and high-growth segments in its core markets of Switzerland, Germany, Belgium and Luxembourg.

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.