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A good year for Basler Switzerland in 2019
Media releases A good year for Basler Switzerland in 2019
Basel, March 26, 2020. Basler Insurance’s business in Switzerland was robust last year, as could be seen from its excellent results for 2019. The volume of business increased sharply, while profitability and earnings before interest and tax remained at a high level. In collaboration with Baloise Bank SoBa, the comprehensive range of financial services was further expanded. Moreover, the innovation pipeline is full of projects in the ‘Home’ and ‘Mobility’ ecosystems. In the current crisis situation, Basler Insurance and Baloise Bank SoBa particularly want to be a strong and dependable partner and, over the past few weeks, have been working hard to maintain services for their customers while ensuring maximum protection for their employees.
Highlights of the 2019 annual financial results for Basler Insurance and Baloise Bank SoBa

Insurance*

  • Strong core business with good results despite persistently challenging conditions
    Good technical result, with a net combined ratio of 87.9 per cent in the non-life business despite higher claims incurred and a smaller profit on claims reserves
  • Market opportunities in group life business lead to a much higher volume of premiums
    The withdrawal of a competitor from business involving comprehensive insurance solutions for occupational pensions resulted in additional premiums of around CHF 560 million. The partially autonomous collective foundation Perspectiva also continued to generate strong growth. 
  • Expansion of the ‘Home’ and ‘Mobility’ ecosystems; increase in the number of new customers
    Besides the very good results in the core business, 2019 was also characterised by capital expenditure on the ‘Home’ and ‘Mobility’ ecosystems. In collaboration with Movu, laundry services provider Bubble Box and Devis.ch, a platform for the services of tradespeople, were integrated into the business model.

Banking**

  • Combination of banking and insurance meets customers’ needs: Another double-digit increase in the number of asset management mandates (23 per cent) and an excellent return on investment (over 26 per cent in portfolios with high equity exposures)
  • Rise in profit to CHF 24.5 million thanks to significant expansion of brokerage business
  • Encouraging growth in lending business, with credit risk costs remaining low

* All figures in accordance with IFRS accounting.
** All figures in accordance with local accounting standards.
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Further information Annual Report of the Baloise Group Annual Report of Baloise Bank SoBa
Further information Annual Report of the Baloise Group Annual Report of Baloise Bank SoBa
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About Baloise The focus is firmly on the future at Baloise. We aim to make tomorrow more straightforward, safer and more carefree for our customers, and we are taking responsibility for this today. Baloise is more than just a traditional insurance company. Through our smart finance and insurance solutions, we offer a complete service package. Dependable support, reliable cooperation and trust-based relationships are key aspects of our stakeholder interaction. We take care of financial matters so that our customers can concentrate on the important things in their lives and can find inspiration in the everyday. Baloise, a European company founded more than 160 years ago, currently employs 8,000 people at its headquarters in Basel (Switzerland) and across its subsidiaries in Belgium, Germany and Luxembourg. Our services generated a business volume of around CHF 8.6 billion in 2023. Baloise Holding Ltd shares (BALN) are listed on the SIX Swiss Exchange.
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