Swiss composite insurance groups Helvetia and Baloise have revealed plans to merge, with the move aimed at “expanding the companies’ capabilities and enlarging their individual distribution networks”.
The merged entity will operate under the name Helvetia Baloise Holding, with headquarters in Basel and a presence in St. Gallen, the current location of Helvetia’s headquarters.
Go deeper with GlobalData
Under this “merger of equals”, Baloise shareholders will receive 1.0119 new shares of Helvetia for each share held.
Helvetia Baloise will become the second-largest insurance group in Switzerland with business volumes of SFr20bn upon deal completion, the joint release stated.
It will operate in around eight countries and feature a global specialty business.
The future structure will see a combined workforce of more than 22,000 and a total of SFr8.6bn in gross premiums in the life business and SFr11.5bn in the non-life business.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe Helvetia Baloise Holding will be listed on the SIX Swiss Exchange, with the ticker symbol ‘HBAN’.
The deal awaits regulatory and anti-trust approvals, with completion anticipated in the fourth quarter of 2025.
Patria Genossenschaft, Helvetia’s largest shareholder with 34.1% share capital, has approved the merger.
The Board of Directors of the combined group will have 14 members, seven from each company.
The executive board will include CEO Fabian Rupprecht from Helvetia and deputy CEO and head of integration Michael Müller from Baloise.
Rupprecht said: “We are very excited about this amazing opportunity to build a European insurance leader with strong Swiss roots. Helvetia Baloise will become the largest employer in the Swiss insurance industry with the greatest possible proximity to customers. This, coupled with the combined expertise of two players that each have been successful for over 160 years, are key factors for future success and sustainable value generation for all our stakeholders.”
Müller stated: “The complementary strengths of the two companies make Helvetia Baloise a relevant insurance and finance partner with Swiss roots and a strong market presence in Europe. The merger adds gravity in our markets and unlocks a new era and opportunities to deliver focused, yield-oriented growth to our shareholders.”
J.P. Morgan Securities is the exclusive financial advisor to Helvetia, while Morgan Stanley International is leading the advisory for Baloise with UBS also providing financial advice.
Legal counsel for the companies is provided by Walder Wyss for Helvetia and Lenz & Staehelin for Baloise.
