The Swiss composite insurance groups Helvetia Holding Ltd. and Baloise Holding Ltd. (BLHEY.PK) Tuesday announced a proposal for merger of equals to form Helvetia Baloise Holding Ltd. The merger is expected to close in the fourth quarter of 2025.
The companies have agreed for a fixed share exchange ratio of 1.0119 Helvetia shares for each Baloise share. Total business volume is expected to increase to CHF 20,156 million.
The Group will be listed on the Swiss Exchange under the new name Helvetia Baloise Holding Ltd and will trade under the ticker symbol 'HBAN.'
The merger will create the second largest insurance group in Switzerland with around 20 percent market share and the largest insurance employer.
The proposed merger will result in an entity with business volume of CHF 20 billion across 8 countries and a global Specialty business.
The merger is expected to generate approx. CHF 350 million in pre-tax cost synergies, in addition to existing cost efficiency plans. Dividend capacity is projected to increase by approximately 20 percent by financial year 2029.
As per the agreement, the Board of Directors will have 7 members from each company, with Thomas von Planta as Chairman and Ivo Furrer as Vice-Chairman. Fabian Rupprecht will be the Group CEO, and Michael Müller will be Deputy CEO and Head of Integration.
The headquarters and registered domicile will be in Basel, while Helvetia's St. Gallen location will remain. The new logo will follow Baloise's design.
A shareholders approval of the merger at the respective extraordinary general meetings, scheduled on May 23, 2025.
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