Sale of subsidiaries completed

Basel, The Baloise Group has completed the sale of its Croatian and Serbian subsidiaries to the Austrian UNIQA Group.

On 22 October 2013, Baloise announced that it was selling its companies in Croatia and Serbia to UNIQA for EUR 75 million and withdrawing from its business operations in south-eastern Europe. As already disclosed last year, Baloise expects to incur a one-time loss of around CHF 30 million as a result of its withdrawal from these markets.

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.