Baloise Holding and Helvetia Holding announced plans on Tuesday to merge in a deal they describe as a merger of equals, creating a new entity called «Helvetia Baloise Holding AG» («Helvetia Baloise» or «Group»). 

With a combined business volume of 20 billion Swiss francs in eight countries and a global specialty business, Helvetia Baloise will become the second largest insurance group in Switzerland and one of the leading insurers in Europe. In addition to the existing cost efficiency plans of both companies, the merger is expected to generate annual run-rate synergies of around 350 million francs before tax and before policyholder participation, strengthen distribution and create significant added value for all stakeholders.

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