BÂLOISE HOLDING AG Media information
Baloise is on target
Basel, 17 November 2015. In local-currency terms, the Baloise Group reported growth of 1.4 per cent in its volume of business for the first nine months of the year, which rose to CHF 7,054.1 million. Non-life business saw marginal growth of 0.7 per cent, while life business generated robust growth of 2.7 per cent, providing confirmation that Baloise will meet its predicted targets.
In the first nine months of 2015, total non-life premiums rose slightly, increasing by 0.7 per cent to CHF 2,611.6 million. The ongoing restructuring of less profitable sectors, such as group accident/health insurance in Switzerland, was reflected in the volume of business. Baloise continued to grow in its target segments, including those in Germany. The claims environment, particularly in Switzerland, Belgium and Luxembourg, remained benign with a similar level of claims as in the same period in 2014. The trend in large claims seen in the first half of the year, when there were prominent large claims in Germany, continued to the end of the nine-month period. However, Baloise is confident that the excellent quality of its non-life portfolio will enable it to achieve a combined ratio at the lower end of its own target range of 93-96 per cent in 2015.
Growth in its life insurance business held steady in the first nine months of the year,with demand for solutions in group life business continuing unabated. There was also encouraging growth in occupational pension-related products other than comprehensive insurance, such as partially autonomous solutions. The volume of single-premium business in unit-linked life products, which is subject to seasonal fluctuations, was virtually unchanged on the same prior-year period.
The tough interest rate environment continues to present a challenge. Baloise remains very well capitalised; its Solvency I ratio as at 30 September 2015 was 341 per cent. This strong capital base underpins the payment of reliable and attractive dividends to shareholders.
Business volumes* as at 30 September 2015 (YTD)
CHF million, changes on Q3 2014 in local currency (%) | Switzerland | Germany | Belgium | Luxembourg | Other | Total |
Life | 2,622.8 4.0% | 348.6 -4.6% | 99.0 3.6% | 57.2 -5.4% | - - | 3,127.7 2.7% |
Investment-type premiums | 118.6 -8.5% | 150.4 3.3% | 267.8 1.6% | 769.0 0.5% | - - | 1,305.8 0.3% |
Non-life | 1,228.4 -1.5% | 613.0 0.9% | 680.0 3.5% | 86.5 5.4% | 3.6 -4.3% | 2,611.6 0.7% |
Total | 3,969.8 1.9% | 1,112.1 -0.6% | 1,046.9 3.0% | 912.7 0.6% | 3.6 -4.3% | 7,045.1 1.4% |
*The business volume was calculated in local currency on a like-for-like basis and excludes discontinued operations (Austria, Croatia and Serbia).
Further information
- Half-Year Report 2015 (PDF)
- Full presentation on the 2015 half-year financial results (PDF)
- Media information at www.baloise.com
Important dates
- Tuesday, 22 March 2016: Annual results media conference on the 2015 financial year
Contact
Baloise Group, Aeschengraben 21, 4002 Basel, Switzerland
Website: www.baloise.com
Email: media.relations@baloise.com / investor.relations@baloise.com
Media Relations: Dominik Marbet, tel. +41 (0)58 285 8467
Investor Relations: Marc Kaiser, tel. +41 (0)58 285 8181
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