BRIEF

on Baloise Holding AG (isin : CH0012410517)

Baloise transfers FRIDAY portfolio to Allianz Direct

On 29 October 2024, Baloise Holding AG announced the sale of its FRIDAY portfolio to Allianz Direct Versicherungs-AG. This strategic move is part of its refocusing on high-profitability sectors. Baloise has determined that the economic conditions, combined with strong competition in the German and French markets, make the further development of FRIDAY unviable. The transaction involves a premium volume of CHF 50 million.

The transfer is expected to be completed by mid-2025, leaving the majority of FRIDAY employees in place until that time. Despite FRIDAY's reputation, Baloise chose this repositioning to better align with its profitability targets. The sale price remains confidential, but a one-off negative impact of CHF 75 million is expected in the 2024 financial year.

R. E.

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