Baloise Implements Refocusing Strategy Amid Financial Adjustments

Baloise Holding AG reported key developments during the first nine months of 2024, centered around its refocusing strategy. A major highlight is the anticipated cash remittance of over CHF 550 million. This strategy includes the sale of the FRIDAY portfolio, impacting profits negatively by CHF 100 million for 2024, but aims to strengthen core business segments.

The non-life business grew by 2.9% in local currency, and the company maintains a solid Swiss Solvency Test ratio of around 210%. Despite a 3.5% decline in life business premiums, the EBIT for this segment is projected to exceed CHF 200 million.

Additionally, Baloise’s dividend policy remains attractive, with the potential for a share buy-back of at least CHF 100 million next year. This follows their strategic objective of a robust capital allocation framework distributing at least 80% of cash remittance to shareholders.