The optimisation measures involve transferring the investment-linked life insurance portfolios to Baloise in Luxembourg, although some will be transferred to Switzerland. Integration of the portfolios is scheduled to take place during the first half of 2020. The portfolios of Baloise Life Liechtenstein AG are to be integrated into a new branch of Bâloise Vie Luxembourg that will be established in the Principality of Liechtenstein. This will particularly help to improve processes for financial closing, reporting and governance. Luxembourg has been Baloise’s European centre of competence for investment-linked life insurance since 2013.
Baloise will continue to have a local presence in Liechtenstein, in future focusing more on the sale of investment-linked life insurance in nearby European countries.
The general agent of Basler Versicherungen in Vaduz, which mainly operates the non-life insurance portfolio in Liechtenstein, is not affected by the portfolio transfer.
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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 7,600 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.