According to those familiar with the matter, the Blues Holding AG and the Helwatia Holding AG are searching for a potential combination that can create Switzerland’s largest insurance.
These companies have discussed the contract possible in recent months, which people have asked not to identify because the information is private.
Following the Bloomberg News report, the shares of Blues closed 0.4 % after increasing by 1.7 %. The stock has grown about 88 % this year, with the price of blossoms about 8.2 billion Swiss francs ($ 9.4 billion). This year, after the stock price increased by 16 %, Halvia’s market value is about 9.4 billion francs.
Sevine’s Blues move triggers European insurers to study contracts
People said that there was no confidence that the dialogue would lead to a transaction. According to people, any move towards the stability of the industry can also mobilize action from other potential sweaters such as the Zuric Insurance Group. Representatives from Blues, Helwatia and Zuric Insurance refused to comment.
Swiss insurance companies have followed a wave of integration dialogue in the European financial industry over the past one year, which has been discussed from the agreement to the assets organizers in the Italian banking industry. Under the leadership of Chief Executive Officer Michael Muller, he has been one of the highest discussions in European insurance candidates, and is under pressure from Swedish activist investor Seven Capital, which has a 9.4 % share.
According to Bloomberg News, Savan is urging Blues to focus on its primary Swiss business and sell other assets, such as its German unit and regional lending to Solotharner Bank. In November, those familiar with the matter said that the provocations of worker investors have encouraged European insurers, including Zuric, Xa SA and Elijan SE, to study whether they would like to bid for Blues or parts of its business if they came to sale in November.
Siyan’s insurance space has a history of mobilizing M&A action. In 2020, the RSA Insurance Group PLC, in which Savan was put at stake, was sustained and the Trig A/S purchased various business bits.
A collection of Blues and Helwatia will produce the largest domestic comprehensive insurance in Switzerland. The integration company will have the work from its home country to Germany, Belgium, Luxembourg and Spain.
Helevitia, which has been going on since 1858, is a product of integration between Swiss and foreign insurance companies. Recently, the firm combined with his Basel -based rival National Swiss in 2014. Six years later, Helwatia completed the acquisition of Spanish insurance company Kaiser.
Headquarters in St. Gallon City recorded a 11.6 billion franc business volume last year. Its chief executive officer, Fabin Ruprich, took over in 2023. Blues, named after the city where its name, developed 8.6 billion francs of the annual premium in 2023, according to its entire year’s income report.
Photo: August 30, 2017, on Wednesday, performs with a flag and a Swiss flag during Anapan Saturday in Switzerland’s Interacts. Photo Credit: Stephen Vermut/Bloomberg
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