The insurer’s new strategy is aimed at enhancing technical profitability, operational efficiency, growth and capital productivity. Credit: Taljat David/Shutterstock.

Swiss insurer Baloise has undertaken a refocusing strategy aimed at enhancing its operational efficiency, technical profitability, growth in key segments and capital productivity.   

Effective immediately, Baloise’s new Simply Safe strategic programme and its associated targets and goals are being replaced by the refocusing strategy.  

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The insurer’s new financial goals include a return on equity of 12–15%, strong cash remittance exceeding SFr2bn ($2.3bn) from 2024 to 2027 and a higher cash payout rate of at least 80%.   

All these objectives are supported by initiatives to improve efficiency, reduce costs, optimise the portfolio and achieve targeted growth. 

The company’s strategy also encompasses maintaining an “attractive shareholder policy”, which includes consistent dividend payments and the introduction of a share buyback programme next spring.   

Baloise CEO Michael Müller said: “Following careful analysis of our business activities, we have identified substantial potential for raising efficiency along with related cost savings and opportunities for growth in all our business units.  

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“To unlock as much of this potential as possible, we are launching our refocusing strategy in which the emphasis is on the performance of our core business and its ability to generate value. This will strengthen the long-term reliability that we offer to our customers, sales partners and employees.  

“It will also lead to an increased return on equity and consistently strong cash remittance. All this, combined with the higher cash payout rate of 80% or more, means we can confirm Baloise as an attractive long-term investment for our shareholders.” 

The latest development follows Cevian’s hike in its Baloise stake to 9.4%, surpassing UBS‘ 9.3% and establishing it as the largest investor.   

This increase from a previous 3.12% stake in early June came after Baloise amended its bylaws last April to remove restrictions on investor voting rights. 

On 11 September, a day ahead of the release of Baloise’s new strategy, Bloomberg reported, citing sources, that Cevian Capital was closely monitoring Baloise’s strategy update. 

Cevian had plans to potentially escalate its involvement in the Swiss insurer by increasing its stake and possibly appointing a board member, sources confirmed.