2018 was characterised by a volatile market development. The stock markets witnessed a marked correction back in February on the back of nascent inflationary fears in the US. Baloise Life Ltd achieved a solid result of CHF 49.9 million in an environment that remained extremely challenging. At 1.96%, the net return on investment was down slightly in a year-on-year comparison (2.09%). The occupational pension environment in Switzerland remains unsatisfactory: on the basis of the current statutory framework, funds are still being reallocated from active employees to the pension recipients. “This meant that we had to set up reserves in excess of CHF 150 million in 2018 alone, i.e. more than CHF 1,000 per insured person. This wasn’t how Pillar 2 was originally intended to work when the idea was conceived – and it’s still not actually how the system is supposed to work. More has to be done again to make occupational pensions in Switzerland better equipped for the future and to boost their acceptance as a result,” says Patric Olivier Zbinden, Head of Product Management Corporate Clients. Due to its selective underwriting policy for comprehensive insurance, Baloise Insurance’s premiums have fallen by 7.00% to a premium volume of around CHF 2.3 billion.
Baloise makes a commitment to its comprehensive product range
Last year was an eventful one for the occupational pension landscape in Switzerland. Two pension funds embarked on a strategic repositioning exercise: one of them has abandoned comprehensive insurance and the other has discontinued its semi-autonomous offering. “While this has caused turbulence and also a degree of uncertainty on the market, it also shows that there are various ways of tackling the challenges associated with Pillar 2. We are committed to our comprehensive product range,” says Thomas Schöb, Head of Product Management Group Life.
Customers are always the focal point
More than 15,000 companies place their trust in Baloise when it comes to the pension assets of their 160,000 or so employees. Customers want to put the issue of pension provision in safe hands and a large proportion of them also want cover for all of the risks they are exposed to. This means that comprehensive insurance remains a popular product that Baloise offers its customers today, and will continue to offer its customers in the future – in line with the high quality standards that they have become accustomed to. The offering is rounded off by semi-autonomous solutions. 92.4% of the total income will benefit the insured persons in the form of interest on their retirement assets (total interest in 2018: 1.00%) and stronger provisions. Baloise has a solid position and is well equipped to tackle the challenges that lie ahead.
The success story of the semi-autonomous Perspectiva Collective Foundation continues
The semi-autonomous Perspectiva Collective Foundation, which will soon be celebrating its fifth anniversary, is growing strongly and significantly outperforming the market. “With more than 1,700 affiliations and an investment volume of more than CHF 600 million, this is a strong indicator that semi-autonomous pension solutions are also becoming increasingly attractive to smaller companies,” concludes Patric Olivier Zbinden.
Die Baloise Group ist mehr als eine traditionelle Versicherung. Im Fokus ihrer Geschäftstätigkeit stehen die sich wandelnden Sicherheits- und Dienstleistungsbedürfnisse der Gesellschaft im digitalen Zeitalter. Die rund 7'300 Baloise Mitarbeitenden fokussieren sich deshalb auf die Wünsche ihrer Kunden. Ein optimaler Kundenservice sowie innovative Produkte und Dienstleistungen machen die Baloise zur ersten Wahl für alle Menschen, die sich einfach sicher fühlen wollen. Im Herzen von Europa mit Sitz in Basel, agiert die Baloise Group als Anbieterin von Präventions-, Vorsorge-, Assistance- und Versicherungslösungen. Ihre Kernmärkte sind die Schweiz, Deutschland, Belgien und Luxemburg. In der Schweiz fungiert sie mit der Baloise Bank SoBa zudem als fokussierte Finanzdienstleisterin, einer Kombination von Versicherung und Bank. Das Geschäft mit innovativen Vorsorgeprodukten für Privatkunden in ganz Europa betreibt die Baloise mit ihrem Kompetenzzentrum von Luxemburg aus. Die Aktie der Bâloise Holding AG ist im Hauptsegment an der SIX Swiss Exchange kotiert.