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Baloise sells German run-off portfolio
Media releases Baloise sells German run-off portfolio
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. 

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About Baloise The focus is firmly on the future at Baloise as part of its «Simply Safe» strategy. 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, complemented by a whole host of innovative offerings for the home and mobility, 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 in 1863, 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 9,600 million in 2021 and a profit of CHF 588.4 million. Bâloise Holding Ltd shares (BALN) are listed on the SIX Swiss Exchange.
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