Sale of life portfolio completed

Bad Homburg, Basler Versicherungen in Germany has completed the transfer of the closed portfolio held by the German branch of Baloise Life Ltd to the Frankfurter Leben Group.

The Baloise Group announced on 5 January that it had received approval from Germany’s Federal Financial Supervisory Authority (BaFin) to transfer the closed portfolio held by the German branch of Baloise Life Ltd to the Frankfurter Leben Group. The transfer and therefore the sale of the closed life insurance portfolio have now been completed, which means that 87 Basler Versicherungen Deutschland employees are definitely moving to the Frankfurter Leben Group. The portfolio comprises around 130,000 life insurance policies and investments amounting to some EUR 1.72 billion.

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.