“Baloise underpinned its excellent position with solid results at the end of the first half of 2019. The result was boosted by a one-off accounting effect related to tax, but the figures are still encouraging even after adjusting for this effect. The same is true for the volume of premiums in the life and non-life business. The outstanding profitability of the non-life business, which is reflected in a combined ratio of 87.4 per cent, marked a particular highlight. The completion of the takeover of Fidea in July was also a great success. Our colleagues in Belgium are now working hard to integrate the new entity into the business as quickly as possible. In addition to excellent operating results in the core insurance business, we are also systematically pursuing the creation and expansion of our ecosystems, with a special focus on transport and the home environment. For our home ecosystem, we recently invested in two new businesses in Switzerland – Bubble Box und Devis.ch. The addition of these new partners further expanded our network of providers of essential customer services. We were also successful in finding third-party investors for our German insurtech FRIDAY. Baloise is well on track to achieve its targets for the Simply Safe strategic phase”, comments Group CEO Gert De Winter on the Baloise Group's 2019 half-year results.
Read the full press-release on Baloise Group website.