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Baloise Holding Expects Lower Earnings Due to Natural-Disaster Claims


Baloise Holding, a leading Swiss insurance company, has issued a warning regarding its earnings for the second half of the year. The company anticipates that high volumes of natural-disaster claims will burden its earnings, leading to a decrease of up to 200 million Swiss francs ($225.2 million). This adjustment is higher than previously expected, as Baloise had originally projected an earnings hit in the mid-double-digit millions.

Over the past three months, Baloise has experienced a significant increase in the number of large natural-disaster claims, surpassing the average. This surge has contributed to the anticipated decrease in earnings for the second half of the year.

In terms of business volume, Baloise reported a marginal increase in the first nine months of the year. The total business volume amounted to CHF6.94 billion, up 0.2% compared to the same period last year. While the non-life and investment-type premiums segments experienced growth, the volume of traditional life insurance declined by 5.2% to CHF2.87 billion.

When considering currency effects, Baloise’s business volumes actually grew by 2.2% in the first nine months.

Despite the challenging claims environment, Baloise’s Swiss Solvency Test ratio, which measures its financial strength, stood at approximately 240% at the end of September. This is an improvement compared to the ratio of 230% on June 30. The company reaffirmed its dividend policy, highlighting its commitment to financial stability.

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