Brief: Helvetia: Helvetia And Baloise To Create Second Largest Insurance Group In Switzerland

Helvetia Baloise Holding AG

22/04/2025 06:08

April 22 (Reuters) - HELVETIA HOLDING AG HELN.S:

HELVETIA AND BALOISE JOIN FORCES TO CREATE THE SECOND LARGEST INSURANCE GROUP IN SWITZERLAND AND A LEADING EUROPEAN INSURER

DIVIDEND CAPACITY TO INCREASE BY APPROX. 20% BY FINANCIAL YEAR 2029

GENERATING APPROX. CHF 350 MILLION RUN-RATE PRE-TAX COST SYNERGIES

MERGER IS EXPECTED TO GENERATE RUN-RATE PRE-TAX COST SYNERGIES OF APPROXIMATELY CHF 350 MILLION BEFORE POLICYHOLDER PARTICIPATION

ANTICIPATED CLOSING IN Q4 2025

BOTH COMPANIES WILL PROPOSE THEIR SHAREHOLDERS APPROVE MERGER AT EGM

MERGER-RELATED JOB REDUCTIONS WILL BE BEFORE 2029 BY NATURAL ATTRITION AND EARLY RETIREMENT WHENEVER POSSIBLE

TOTAL INTEGRATION COSTS OF APPROXIMATELY CHF 500-600 MILLION IN COMING YEARS ARE EXPECTED, MOST OF WHICH ARE FORESEEN TO BE INCURRED BY 2028

Source text: ID:nEQ7TTjdLa

Further company coverage: HELN.S

 (Gdansk Newsroom)

 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))