The merger is expected to generate annual savings of around 350 million Swiss francs (US$433mil) before taxes. — Reuters
BERLIN: Helvetia and Baloise say that they plan to merge, creating Switzerland’s second-largest insurance group with a combined market share of about 20%.
Helvetia chief executive officer Fabian Rupprecht will take the helm of the new firm and the exchange ratio will be 1.0119 Helvetia share for each Baloise share.
