Proposed merger between Helvetia and Baloise

The Helvetia and Baloise insurance groups announced, on 22 April 2025, their intention to merge and form “Helvetia Baloise Holding”.

Under the terms of the transaction, Baloise shareholders will receive 1.0119 new Helvetia shares for each Baloise share held.

With a market share of almost 20%, the merged entity will become the second largest Swiss insurer and the largest employer in the local sector.

Helvetia Baloise is also set to become a leading player in Europe, especially in Germany, France, Italy, Spain, Belgium, Austria and Luxembourg.

The new structure would generate pre-tax annual cost synergies of around 350 million CHF (433.2 million USD), before policyholder participation. Dividend capacity is expected to increase by around 20% by 2029.

The future Board of Directors will consist of 14 members, divided equally between the two companies: seven from Helvetia and seven from Baloise.

Based in Basel, Helvetia Baloise will be headed by Fabian Rupprecht, Helvetia's current CEO. Michael Müller, CEO of Baloise, will be Deputy CEO and Head of Integration.

The new group's logo will be inspired by that of Baloise.

Pending approval by the shareholders of both parties and the relevant authorities, the merger is expected to be finalized in the fourth quarter of 2025.