The Basel-based insurance company after nine months is on course to meet its targets for the full year. And that will come to the benefit of its owners.
Baloise non-life premiums rose 5.7 percent to 2.87 billion Swiss francs ($2.85 billion) year-on-year, according to a statement on Wednesday. Based on the expectation of an average level of claims in the fourth quarter of 2018, Baloise predicts that the combined ratio will be within the target range of 90 percent to 95 percent.
Premiums in the traditional life business by contrast fell 5.5 percent to 2.71 billion francs, which is in line with the company’s strategy.
Less Risk Strategy
Perspectiva, the partially autonomous pension solution, has increased the number of customers. It will help Baloise reach its goal of adding 1 million new clients by 2021 and to return 2 billion francs in cash to the holding.
The life business is expected to have a positive impact on the profit for 2018 as a whole because of the sustained shift towards life products that entail less risk capital and due to the stabilization of interest rates at a low level, Baloise said.
Attractive Dividend Policy
Baloise is confident to generate more than 400 million in cash for the holding company, which will allow the insurer to continue with an attractive dividend policy, said Gert De Winter, the chief executive officer of Baloise.
