Helvetia further internationalises its business with UK branch

Media release
St.Gallen, 30 October 2023

Helvetia Global Solutions receives regulatory approval for its UK branch to underwrite specialty lines business. This includes the underwriting of international risks in the specialty lines business, such as General Aviation and Marine business. The UK branch is headed by Marc Davis.

Helvetia Global Solutions has received confirmation from UK regulators that its authorization to underwrite non-life insurance business in the UK has been approved and comes into effect on 1 November 2023. Helvetia Global Solutions focuses on international non-life business, in specialty lines (large corporate risks) and embedded insurance solutions. The UK branch is already home to experienced underwriting teams for International General Aviation and Marine business. The opening of the branch is in response to Brexit, where UK business can only be underwritten on a freedom of services basis until 31 December 2023. Helvetia already offers very successful specialty lines cover in the UK and will be able to continue this business thanks to the regulatory approval.

As of year-end 2022, gross written premiums of Helvetia Global Solutions were around EUR 508 million. Expected specialty lines premium volume of the UK branch for 2023 amounts to around EUR 50 million. Helvetia Global Solutions has an "A" rating with stable outlook from S&P Global Ratings (S&P). The rating also applies to the UK branch.

Internationalisation strengthens the diversification of the Group
With Helvetia Global Solutions and its UK branch, Helvetia is unlocking international, sustainable growth opportunities that make an important contribution to the strategic priority "profitable growth" of the helvetia 20.25 strategy. Fabian Rupprecht, Group CEO of Helvetia, comments: "With the UK branch, we are further diversifying our business mix. The opening of this additional branch is a further step in continuing the internationalisation of Helvetia Group."

Experienced underwriting team led by Marc Davis
In preparation of the UK branch, Helvetia Global Solutions has successfully appointed Marc Davis as CEO of the UK branch. Marc Davis joined Helvetia on 1 October 2022 and has extensive experience in the insurance industry. Most notably, he was Country Manager UK and Ireland for Swiss Re Corporate Solutions, Commercial distribution director at RSA and previously head of sales & marketing at Marsh's IRM division in the UK. "With Marc Davis, we have gained a very experienced professional who will support the successful establishment of the UK branch as well as the assessment of local business opportunities in the UK in alignment with our strategy", says David Ribeaud, CEO Specialty Markets of Helvetia Group.

About Helvetia Group
Helvetia Group, with its headquarters in St. Gallen, has grown since 1858 to become a successful insurance group with over 12,000 employees and more than 7 million customers. It has been enabling its customers to seize opportunities and minimise risks for all that time – Helvetia is there for them when it matters. Helvetia is the best partner and is present everywhere that protection needs arise, with insurance, pension and investment solutions from a single source as well as simple products and processes. The insurance group knows the business, from mobile phone insurance and insurance cover for the Gotthard Base Tunnel to the long-term investment of customer assets. Helvetia develops and opens up new business models with enthusiasm and drives forward its own business in a powerful and future-oriented manner. It acts with foresight and responsibility in everything it does: for the benefit of its shareholders, customers and employees as well as its partners, society and the environment.
Helvetia is the leading all-lines insurer in Switzerland. In the Europe segment comprising Germany, Italy, Austria and Spain, the company has firmly rooted market positions for generating above-average growth. In the Specialty Markets segment, Helvetia offers tailored special insurance and reinsurance cover worldwide. With a business volume of CHF 10.7 billion, Helvetia generated IFRS net income after tax of CHF 480.2 million in the 2022 financial year under IFRS 17/9. The shares of Helvetia Holding AG are traded on SIX Swiss Exchange.

Cautionary note
This document was prepared by Helvetia Group and may not be copied, altered, offered, sold or otherwise distributed to any other person by any recipient without the consent of Helvetia Group. The German version of this document is decisive and binding. Versions of the document in other languages are made available purely for information purposes. Although all reasonable effort has been made to ensure that the facts stated herein are correct and the opinions contained herein are fair and reasonable, where any information and statistics are quoted from any external source such information or statistics should not be interpreted as having been adopted or endorsed as accurate by Helvetia Group. Neither Helvetia Group nor any of its directors, officers, employees and advisors nor any other person shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this information. The facts and information contained in this document are as up to date as is reasonably possible but may be subject to revision in the future. Neither Helvetia Group nor any of its directors, officers, employees or advisors nor any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document.
This document may contain projections or other forward-looking statements related to Helvetia Group which by their very nature involve inherent risks and uncertainties, both general and specific, and there is a risk that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include: (1) changes in general economic conditions, in particular in the markets in which we operate; (2) the performance of financial markets; (3) changes in interest rates; (4) changes in currency exchange rates; (5) changes in laws and regulations, including accounting policies or practices; (6) risks associated with implementing our business strategies; (7) the frequency, magnitude and general development of insured events; (8) mortality and morbidity rates; (9) policy renewal and lapse rates as well as (10), the realisation of economies of scale as well as synergies. We caution you that the foregoing list of important factors is not exhaustive; when evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties. All forward-looking statements are based on information available to Helvetia Group on the date of its publication and Helvetia Group assumes no obligation to update such statements unless otherwise required by applicable law.