Baloise is on target

Basel, In local-currency terms, the Baloise Group reported growth of 1.4 per cent in its volume of business for the first nine months of the year, which rose to CHF 7,054.1 million. Non-life business saw marginal growth of 0.7 per cent, while life business generated robust growth of 2.7 per cent, providing confirmation that Baloise will meet its predicted targets.

In the first nine months of 2015, total non-life premiums rose slightly, increasing by 0.7 per cent to CHF 2,611.6 million. The ongoing restructuring of less profitable sectors, such as group accident/health insurance in Switzerland, was reflected in the volume of business. Baloise continued to grow in its target segments, including those in Germany. The claims environment, particularly in Switzerland, Belgium and Luxembourg, remained benign with a similar level of claims as in the same period in 2014. The trend in large claims seen in the first half of the year, when there were prominent large claims in Germany, continued to the end of the nine-month period. However, Baloise is confident that the excellent quality of its non-life portfolio will enable it to achieve a combined ratio at the lower end of its own target range of 93-96 per cent in 2015.

Growth in its life insurance business held steady in the first nine months of the year,with demand for solutions in group life business continuing unabated. There was also encouraging growth in occupational pension-related products other than comprehensive insurance, such as partially autonomous solutions. The volume of single-premium business in unit-linked life products, which is subject to seasonal fluctuations, was virtually unchanged on the same prior-year period.

The tough interest rate environment continues to present a challenge. Baloise remains very well capitalised; its Solvency I ratio as at 30 September 2015 was 341 per cent. This strong capital base underpins the payment of reliable and attractive dividends to shareholders.

Business volumes* as at 30 September 2015 (YTD)

CHF million, changes on Q3 2014 in local currency (%)

  Life Investment-type
premiums
Non-life Total
Switzerland 2,622.8
4.0%
118.6
-8.5%
1,228.4
-1.5%
3,969.8
1.9%
Germany 348.6
-4.6%
150.4
3.3%
613.0
0.9%
1,112.1
-0.6%
Belgium 99.0
3.6%
267.8
1.6%
680.0
3.5%
1,046.9
3.0%
Luxembourg 57.2
-5.4%
769.0
0.5%
86.5
5.4%
912.7
0.6%
Other -
-
-
-
3.6
-4.3%
3.6
-4.3%
Total 3,127.7
2.7%
1,305.8
0.3%
2,611.6
0.7%
7,045.1
1.4%

* The business volume was calculated in local currency on a like-for-like basis and excludes discontinued operations(Austria, Croatia and Serbia).

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 7,400 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.