Baloise: profit and dividend up

Over the year 2021, the insurance company Baloise increased its net profit by +35.5% and its operating profit by +19.9%. Turnover rose by +7.4% thanks to organic growth and the integration of the Belgian company Athora. These good results were obtained despite a record level of charges due to bad weather in the summer of 2021. These charges affected the non-life sector, whose EBIT only increased by +0.6%, while EBIT of the life sector jumped by +44.1%. The group’s combined ratio deteriorated slightly, from 91.2% to 92.6%, which remains very good given the heavy charges of 2021. The group’s equity increased by +4.5% to CHF 7.3 billion and the Swiss Solvency Test as of January 2022 is expected over 210%. These solid results led the Board of Directors to propose an increase in the dividend from CHF 6.4 to 7.0 per share. For 2022, Baloise will continue its rebranding program and bring together under the Baloise name all the brands used in all countries. In addition, the group plans to acquire 1.5 million new customers by 2025.