Helvetia and Baloise to merge

Swiss insurers Baloise and Helvetia intend to merge to form Helvetia Baloise Holding, which will become the second-largest insurance group in Switzerland with a combined market share of ~20%. The new entity will have CHF 20 billion in written premiums across 8 countries and a global specialty business.

The merger is expected to generate run-rate pre-tax cost synergies of approximately CHF 350 million before policyholder participation, in addition to existing cost efficiency programs, enhancing the distribution capacity and creating significant value for all its stakeholders.

The merger is expected to close in Q4 2025.

“The merger to form Helvetia Baloise is a significant milestone in the history of the Swiss insurance industry. It’s the next logical step for both companies in delivering against their respective strategies to become a leading European insurer and the second largest Swiss insurance group. The transaction will ensure the long-term attractiveness and competitiveness of the two long-standing Swiss companies in the local and international insurance market and generate superior value for customers, partners, employees, the public and shareholders.” – Thomas von Planta, Chairman of Baloise Holding.

“Leveraging our strong positioning in the market, we as two medium-sized listed insurance groups can tackle future challenges together supported by increased scale, improved profitability and a highly attractive value proposition for all our stakeholders. This merger is not just a strategic move; it is a commitment to our values and vision for a sustainable future. We are confident that Switzerland, as a business location, our customers, partners, employees and shareholders will benefit from this decision. Together, we are stronger and better equipped to drive growth in the future.” – Thomas Schmuckli, Chairman of Helvetia Holding.