Helvetia Holding AG ( (CH:HELN) ) has shared an announcement.
Helvetia Holding AG and Baloise Holding AG have announced a merger to form Helvetia Baloise Holding AG, creating the second largest insurance group in Switzerland and a leading European insurer. The merger is expected to generate significant synergies, with annual cost savings of CHF 350 million and a 20% increase in dividend capacity by 2029. This strategic move aims to enhance competitiveness and value for stakeholders, leveraging cultural similarities and complementary strengths to drive growth and innovation. The new entity will have a strong capital base and plans to manage job overlaps through natural attrition and early retirements, ensuring a fair process for affected employees.
More about Helvetia Holding AG
Helvetia Holding AG is a prominent player in the insurance industry, providing a wide range of insurance products and financial services. The company focuses on both life and non-life insurance sectors and operates in several European markets, including Germany, France, Italy, Spain, Belgium, Austria, and Luxembourg, as well as in the global specialty business.
YTD Price Performance: 21.22%
Average Trading Volume: 84,700
Technical Sentiment Signal: Sell
Current Market Cap: CHF9.6B
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