Swiss insurers Helvetia and Baloise to merge to create top 10 company

Swiss Insurers Helvetia and Baloise to Merge to Create Top 10 Company

Helvetia, Baloise Reach Deal to Create Switzerland’s Second-Largest Insurer

The enlarged group will be listed on the SIX Swiss Exchange under the new name Helvetia Baloise

Helvetia, Baloise to Merge to Create Switzerland's Second-Largest Insurer

Swiss insurers Helvetia and Baloise to merge to create top 10 company

Helvetia and Baloise plan to merge to create Switzerland's second-largest insurance group with a combined business volume of 20 billion Swiss francs ($24.69 billion), the pair said on Tuesday.

Thomas von Planta, Chairman of the Board of Directors of the new insurer, and CEO Fabian Rupprecht explain in an interview the reasons for the merger between the two insurers and why there is a job reduction.

The two Swiss insurers Helvetia and Baloise are joining forces to create a new number two in the market in Switzerland. This is likely to lead to job cuts in Germany as well.