Helvetia's FY beat, dividend target hike lift shares

Helvetia Baloise Holding AG

06/03/2023 08:49

** Helvetia Holding's  HELN.S  shares rise around 3% after
the Swiss insurance group reported full-year beat and hiked its
dividend target 
    ** The Swiss firm reported an IFRS profit after tax of 614.4
million Swiss francs ($658.45 million), helped by a 102 million
Swiss francs one-off sale of Spanish life insurance company Sa
Nostra Vida to Caixabank  CABK.MC  
    ** Furthermore, it announced an increase in its 2025
dividend target, aiming to distribute by then a total cumulative
sum of 1.65 billion francs
    **  "The highlight of today's results is the increase in the
cumulative dividend target to CHF 1.65 bn from CHF 1.5 bn (we
are currently at CHF 1.60)," Vontobel says
    ** "Results are better than consensus and our expectations,
driven by a very strong result in the life segment" it adds
    ** Helvetia Holding shares top Switzerland's midcaps index
 .SMIM 



($1 = 0.9331 Swiss francs)

 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))