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.

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.