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Basel, July 24, 2022. Baloise is selling a run-off portfolio for hospital liability insurance in Germany to Bothnia International Insurance Company Ltd., a subsidiary of UK run-off specialist CompRe. The transaction is expected to be completed in the second half of 2022.

Germany-based Basler Sachversicherungs-AG is selling its run-off portfolio for hospital liability insurance. No new business has been taken on in this portfolio since 2018.
The sale encompasses the entire hospital liability insurance portfolio of Basler Sachversicherungs-AG in Germany, with reserves of around EUR 200 million.

The portfolio is being purchased by Bothnia International Insurance Company Ltd., which is headquartered in Finland and is part of the UK-based CompRe Group. The transfer still needs to be approved by the German Federal Financial Supervisory Authority (BaFin). The parties have agreed not to disclose the purchase price.

Ecclesia Gruppe Assekuranz Service GmbH, which is headquartered in Detmold, Germany, will continue to handle the claims settlement process for existing customers. 
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.
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