25 March 2014 Insurance

Swiss insurer increases dividend; posts strong results

Swiss insurer Baloise has proposed a 5.6 percent increase in its dividend to CHF4.75, for the first time in six years following solid 2013 results.

Net income for the insurer increased to CHF453 million ($514 million) in 2013, compared with CHF437 million in 2012.

The insurance business reported a combined ratio of 94.9 percent, despite wholesale and storm damage, while operating earnings in the life sector increased by almost 50 percent. This was driven by higher sales in Switzerland.

The company’s CEO Martin Strobel said that the results show that Baloise’s business model is solid and that the company has “one of the most profitable” insurance portfolios in Europe.


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More on this story

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17 May 2023   The appointee has previously worked at Generali.
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16 March 2023   Its CEO of one of the largest markets is leaving the business after 18 years.
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20 January 2023   The insurer’s board has picked the long-serving CEO of its Swiss business to take the reins.

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