Helvetia, Baloise to merge into Switzerland’s second-biggest insurance group

Industry:    11 hours ago

Helvetia and Baloise plan to merge into what would be Switzerland’s second-largest insurance group with a combined market share of about 20%, the firms said on Tuesday.

The merger is expected to generate run-rate pre-tax cost synergies of 350 million Swiss francs ($433 million) before policyholder participation, they said.

The merged insurance group would be called Helvetia Baloise, with an anticipated closing of the deal in the fourth quarter.

print
Source: