Swiss Giants Baloise and Helvetia Merge to Form Europe’s Top 10 Insurance Group

Two of Switzerland’s largest insurance firms, Baloise and Helvetia, are set to merge, creating the second largest insurance group in the country. The combined entity will not only dominate the domestic market with a share of approximately 20% but will also rank among the top 10 insurance groups in Europe, boasting a business volume of CHF20 billion ($24 billion) across eight countries. Prior to the merger announcement, Baloise and Helvetia had market capitalizations of CHF8.5 billion and CHF9.6 billion, respectively. This merger, valued at $10.8 billion, has seen Freshfields and Clifford Chance assume lead advisory roles. For more details, read the full article here.