Baloise expects exceptionally strong results for the first half of 2019

Basel, July 10, 2019. Baloise expects to report a significant year-on-year increase in profit for the first half of 2019. This strong result is attributable to a one-off accounting effect related to tax.

The Baloise Group expects to have generated a profit of well over CHF 300 million for the first half of 2019. In addition to the encouraging operating performance over the last six months, this exceptional result is also attributable to the effects of Switzerland’s cantonal tax reform. Under International Financial Reporting Standards (IFRS), these effects resulted in the reversal of tax provisions, which will have a positive one-off impact on earnings in the 2019 financial year.

Baloise will publish its half-year financial statements for 2019 on 28 August.

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About Helvetia Baloise

Helvetia Baloise is Switzerland’s largest multi-line insurer and one of Europe’s leading insurance groups. Every day, more than 22,000 employees work hard to support around 13 million customers with insurance, pension, and financial solutions. These customers range from individuals and small to medium-sized enterprises (SMEs) through to international customer groups, which also benefit from areas such as specialty insurance and reinsurance. Headquartered in Basel, Switzerland, Helvetia Baloise operates in eight European markets and in global specialty markets, combining its strong Swiss roots with a clear international focus. Helvetia Baloise creates safety and security and opens up opportunities, both today and in the future. Through profitable growth and business operations that are geared to long-term stability, we create tailored solutions for our customers, provide an attractive and reliable investment for our shareholders, promote strong partnerships and offer rewarding career prospects for our employees. Helvetia Baloise Holding Ltd shares (HBAN) are listed on the SIX Swiss Exchange.