Baloise said it consolidated its strong start in recent months, with the non-life business providing a vital impulse. Here’s what it expects for the full year 2017.
«Baloise is anticipating 2017 as a whole to be a successful year,» the company said in its statement about the first nine months of the year released today.
Business was boosted by the non-life unit, where premiums rose 1.9 percent to 2.72 billion Swiss francs in the nine months through September. Growth was most strong in Belgium, with an increase of 4.1 percent. The market is the second strongest after Switzerland.
In Germany, growth came in at 2.7 percent, while Switzerland was almost flat at plus 0.2 percent.
Business Volume Flat
The premium volume in the life unit declined 1.5 percent to 2.87 billion francs. The main reason for the decline was the divestment of a closed life insurance portfolio in Germany, Baloise said. «Bolstered by a slight easing in the interest rate environment, the life business is well on track to deliver a solid profit contribution,» the Basel-based firm said.
Taking together, Baloise had a business volume of 7.22 billion francs in the first nine months, down 0.2 percent.
