Baloise Group in Luxembourg supports the government's efforts to deal with COVID-19

April 29, 2020. Information on Bâloise participation to the Luxembourg Government bon issue.

Issue of a EUR 2.5 billion loan by Luxembourg Government to deal with COVID-19

On 21 April 2020, the Luxembourg Government opened a EUR 2.5 billion bond issue for subscription to support the fight against the COVID-19 pandemic and to help the national economy overcome this unprecedented crisis.

On 23 April 2020, consultations took place between the Minister of Finance, Pierre Gramegna, and the Association of Insurance and Reinsurance Companies (ACA) on the impact of the current crisis on the insurance sector, as well as on the commitment of the sector to sustain the Luxembourg economy in the fight against the COVID-19 pandemic.

Luxembourg insurers and reinsurers, as institutional investors, have actively subscribed to the EUR 2.5 billion bond loan that the State issued on 21 April 2020.

You can find the full press release issued by the Ministry of Finance on the government's website.

Bâloise subscribes to the bond issue

Bâloise Group in Luxembourg is strongly established in the country since 1890, with both local activities through Bâloise Assurances S.A. and life insurance through Bâloise Vie Luxembourg S.A.

As a key player and in order to support the government's efforts to overcome this pandemic, Bâloise Group in Luxembourg also subscribed to the bond issue.

Bâloise in Luxembourg joined the Luxembourg insurers and reinsurers involved in the ACA to support the bonds issued by the Luxembourg government and to contribute to solidarity by financing the state aid necessary to preserve companies in difficulty and to maintain employment in Luxembourg.

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