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Helvetia Holding (HELN) investor relations material

Helvetia Holding Status Update summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Status Update summary8 Dec, 2025

Merger completion and market position

  • Merger between Helvetia and Baloise completed on 5 December 2025, forming Switzerland's largest multi-line insurer with a strong European presence and about 20% market share in Switzerland.

  • Newly issued shares of Helvetia Baloise Holding Ltd (HBAN) began trading on SIX Swiss Exchange on 8 December 2025.

  • Operational integration is well advanced, with top management layers appointed and collaborating effectively.

  • Integration is proceeding smoothly due to similar corporate cultures and strong team motivation.

  • Helvetia Baloise serves around 13 million customers across eight European markets and global specialty markets, with over 22,000 employees.

Pro forma financial information and accounting impacts

  • Pro forma financials for FY2024 and H1 2025 highlight main accounting impacts under IFRS 17, with Helvetia as the acquirer.

  • Goodwill recognized at CHF 4.7 billion and intangible assets at CHF 3.4 billion, both comfortably absorbed due to business quality and synergies.

  • Pro forma combined equity as of 30 June 2025 is CHF 13.9 billion, with total assets of CHF 146.5 billion.

  • IFRS adjustments include recognition and amortisation of intangible assets, fair value alignment, and effects from new discount rates.

  • Net income for HY25 materially impacted by one-off accounting effects, including CSM release, discounting, and amortization of intangibles.

Synergies, cost savings, and financial targets

  • Merger expected to deliver CHF 350 million run-rate pre-tax cost synergies and an additional CHF 220 million in cash generation, leading to a 20% dividend uplift by 2029.

  • 80% of synergies targeted to be realized by 2028.

  • Integration costs estimated at CHF 500–600 million, mostly incurred by end of 2028, excluded from underlying earnings.

  • Dividend policy to pay at least equal to prior year maintained.

  • Commitments on cash and dividend capacity uplift, synergies, and operational integration remain valid.

How will intangible asset amortization affect earnings?
Define 'underlying earnings' for future reporting.
Impact of new discount rates on financial result?
How does IFRS net income affect dividend payout ratio?
What is the timeline for synergy realization?
What justifies the recognized goodwill amount?
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Frequently asked questions

Helvetia Holding AG is a Swiss insurance company offering a wide range of insurance and pension solutions for individuals and businesses. The company provides life, non-life, and reinsurance products, including property, casualty, motor, health, and liability insurance. Helvetia serves both private and corporate clients across various industries, focusing on risk management and financial security. In addition to its core Swiss market, the company operates in several European countries, delivering tailored insurance services and pension solutions. The company is headquartered in St. Gallen, Switzerland, and its shares are listed on the SIX.

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