For the first nine months, Baloise publishes key figures mainly on volume: the group’s business volume fell by 8.5 percent to CHF 7.01 billion, according to the announcement on Thursday. It is slightly lower at minus 5.4 percent calculated in local currencies. Analysts expected this.
The non-life business developed steadily and revenue fell 2.0 percent to CHF 3.30 billion, but increased by 1.9 percent after currency adjustments. It was stated that all country units contributed to this growth. Also, the composite rate is at the same level as in the first half of the year, when it was reported just under 92 percent.
Volume in life insurance fell 7.1 percent to CHF 2.55 billion, or 5.9 percent in local currencies. However, portfolio optimization is paying off, and the rise in interest rates is also having an impact. This means that the division can expect a very good contribution to EBIT in excess of 300 million.
Business with investment products has been heavily impacted by volatile developments in the financial markets. Investment type premiums decreased quarter-on-quarter to CHF 1.15 billion. Adjusted for currency effects, they fell by a fifth.
Meanwhile, Baloise continues to have good capital and continues to generate solid cash. This makes it possible to continue the attractive dividend policy of recent years. At the same time, the SST solvency ratio is still high, estimated at 230 percent.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
