Baloise Group
Baloise Group is a 160-year-old Swiss insurance and financial services company operating across five European countries, offering non-life and life insurance, banking via Baloise Bank AG, and asset management to retail, SME, and corporate customers. It is now part of the Helvetia Baloise Group following a 2025 merger with Helvetia.
- Company typePublic
- Founded1863
- HeadquartersAntwerp, Belgium
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What Baloise Group does
Baloise Group is a Swiss insurance and financial services company, founded in 1863 in Basel, that operates across Switzerland, Germany, Belgium, Luxembourg, and Liechtenstein with over 8,000 employees. Its core products span non-life insurance (home, car, liability; EBIT of CHF 261.1 million in 2024 with a 92.9% combined ratio), life and health insurance (EBIT of CHF 282.3 million), and asset management and banking — the last delivered through Baloise Bank AG and a professional portfolio management unit whose 2024 EBIT of CHF 89.1 million was driven by growth in third-party assets. The business is built on an integrated financial services platform combining traditional insurance with retirement planning, wealth management, and a Swiss banking license, monetized primarily through recurring premiums, policy fees, asset management fees, and net interest income.
Distribution combines a dense general agency network across the five operating countries with a digital customer portal, online rate calculators, and direct online purchase for selected insurance and banking products. AI and analytics capabilities are embedded via a long-standing partnership with Veezoo (natural-language internal data analytics, deployed since 2018 with 42 active users generating ~192 queries per month) and a 2024 strategic cooperation with Google on Baloise FX, a generative AI tool for financial planners operating in a hybrid AI-plus-human model.
In 2024 Baloise launched a four-pillar refocusing strategy (technical profitability, operational efficiency, growth in target segments, capital productivity), divested its FRIDAY digital insurance subsidiary to Allianz Direct, and booked CHF 92 million in exceptional non-operating items. In April 2025 it announced a transformational merger with Helvetia; the deal was approved by shareholders of both groups with more than 95% support in May 2025, creating the Helvetia Baloise Group with combined pro forma underlying earnings of CHF 1,035 million in FY 2025 and anticipated annual cost synergies of around CHF 350 million. Baloise Insurance Ltd is headquartered at Aeschengraben 21 in Basel and continues to operate under its brand within the combined group.
Baloise Group firmographics
Firmographics- Name
- Baloise Group
- Legal name
- Baloise Insurance Ltd
- Website
- https://baloise.com
- Company type
- Public
- Founded year
- 1863
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Baloise Group is a 160-year-old Swiss insurance and financial services company operating across five European countries, offering non-life and life insurance, banking via Baloise Bank AG, and asset management to retail, SME, and corporate customers. It is now part of the Helvetia Baloise Group following a 2025 merger with Helvetia.
- Ownership category
- akta.pro rank
Baloise Group industry classification
Industry- Product category
- Insurance and Financial Services
- NAICS
- Direct Life, Health, and Medical Insurance Carriers (52411), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers and Related Activities (524), Portfolio Management and Investment Advice (523940)
- SIC
- Life Insurance (6311), Insurance Carriers, Nec (6399), Investment Advice (6282)
- akta.pro primary industry
- Comprehensive Financial Planning (FSAEAAAA)
- akta.pro secondary industry
- Mid-Market Commercial Package (Package Policies) (FSAJAFAB)
Keywords
Where Baloise Group is headquartered
LocationHeadquarters
- HQ city
- Antwerp
- HQ country
- Belgium
- HQ region
- Europe
Offices6 records
Markets served
Baloise Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Non-Life Insurance: Property and casualty insurance including home, car, and liability coverage. EBIT of CHF 261.1 million in 2024 with combined ratio of 92.9%. Target combined ratio of around 90%.
- Life Insurance: Traditional and unit-linked life insurance, health insurance, and retirement planning solutions. EBIT of CHF 282.3 million in 2024.
- Asset Management & Banking: Professional portfolio management for Baloise and third-party customers. EBIT of CHF 89.1 million in 2024, dominated by rise in third-party assets.
- Banking Services: Integrated financial services through Baloise Bank AG in Switzerland, including savings accounts, home financing, and retirement planning.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Baloise Group product offering
Product offeringCore offering
Baloise Group fundamentally provides insurance coverage (home, car, life, liability, and health), banking services (savings, home financing, retirement planning) through Baloise Bank AG, and professional asset management for both internal and third-party customers. These offerings are delivered through an integrated multi-channel distribution including general agencies, direct online portals, and a customer portal across Switzerland, Germany, Belgium, Luxembourg, and Liechtenstein.
Product overview
Baloise Group operates as a diversified financial services provider within the Helvetia Baloise Group, offering a multi-product portfolio across insurance (home, car, life), banking, asset management, and retirement planning. The company provides both traditional insurance products through integrated channels and digital services including AI-powered analytics tools (Veezoo for internal data analysis, Baloise FX for financial planning in partnership with Google). Customer engagement extends to digital platforms including a careers portal and WhatsApp-based marketing campaigns.
Differentiator
Problem solved
Functional benefit
Brands
- Baloise Bank AG: Integrated financial service provider offering banking services in Switzerland.
- Baloise Asset Management
Products and services
- Insurance Products Core insurance offerings covering home, car, life, liability, and health, providing claims handling and risk protection services for private individuals, self-employed persons, and companies.
- Banking Services (Baloise Bank AG) Integrated financial services delivered through Baloise Bank AG in Switzerland, offering savings accounts, home financing, and retirement planning solutions for customers across all life stages.
- Asset Management Professional portfolio management for Baloise and third-party customers, providing access to quality financial products and strengthening Baloise's position as a leading financial services provider.
- Retirement Planning Wealth and pension planning services including retirement solutions that address longevity risk protection and combine the stability of defined benefit plans with the flexibility of defined contribution plans.
- Baloise FX AI-powered financial planning tool developed in cooperation with Google using generative AI to simplify and optimize the work of financial planners. Operates as a hybrid model where AI generates reports and human financial planners review outputs through a dashboard.
Quantifiable outcome
- Combined ratio improved to 92.9% (2024), targeting around 90%
- +3 more outcomes
Companies that use Baloise Group
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Baloise Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration20 records
AI capability6 records
Feature2 records
Baloise Group partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered flagship and core.
- HelvetiaflagshipTransformational merger creating Helvetia Baloise Group. Both companies approved the merger with over 95% shareholder vote in May 2025. Expected to close late 2025. Anticipated annual cost savings of around CHF 350 million with 80% to be achieved by end of 2028. Combined entity targets 10-12% underlying EPS CAGR and 16-18% underlying return on average equity.
- GooglecoreBaloise FX is a cooperation between Google and Baloise using generative AI to simplify and optimize the work of financial planners. In a hybrid model, Baloise's financial planners work closely with the AI-powered system, monitoring AI-generated reports for accuracy through a dashboard. Currently in testing phase with planned live launch for customers in 2025.
- VeezoocoreVeezoo is an AI-powered natural language analytics platform that enables Baloise employees without technical backgrounds to query data and receive instant, reliable answers. In use since 2018 with 42 active users generating average 192 queries per month. The platform makes data analytics accessible to marketing managers and other non-technical staff, enabling complex selections down to individual product coverage level.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Baloise Group competitors and assessment
Company assessmentBroad incumbents
- AXA SA: French global insurer offering life, P&C, and asset management across Europe. Competes directly with Baloise in Swiss and Belgian markets and at the corporate/institutional wealth management tier.
- Zurich Insurance Group: One of the largest global insurers headquartered in Zurich with broad life and P&C operations worldwide. Competes with Baloise across Switzerland and Europe and acquired several European franchises; broader scope but overlapping in core Swiss/European mid-market.
- Assicurazioni Generali: Italy-headquartered global insurer active in life, P&C, and asset management across continental Europe. Comparable to Baloise in product breadth and geographic reach into Central European markets, though materially larger.
- Allianz SE: Global German-headquartered insurer and asset manager, parent of Allianz Direct (which acquired Baloise's FRIDAY portfolio). Competes in life, P&C, and asset management across all of Baloise's European markets; larger scale but overlapping customer segments.
Direct peers
- UNIQA Insurance Group: Austrian-based multi-line insurer with operations in Central and Eastern Europe (CEE). Similar scale and integrated insurance/wealth model as Baloise; comparable competitive positioning in regional European markets.
- Vienna Insurance Group (VIG): Austrian-headquartered insurance group with strong presence in Central and Eastern Europe. Similar mid-sized European footprint and product mix to Baloise, with emphasis on multi-country life and P&C distribution.
- Swiss Life Holding: Swiss-domiciled life insurance, pension, and wealth management specialist operating across Switzerland, France, Germany, and Luxembourg. Highly comparable to Baloise given its focus on integrated insurance + asset management in the same European footprint.
- Helvetia Insurance: Swiss-based insurance and financial services group offering life, non-life, and asset management across Switzerland, Germany, Italy, Austria, and Spain. Direct merger counterpart of Baloise in Helvetia Baloise Group; nearly identical product mix and distribution model, making it the closest 1:1 comparable pre-merger.
Regional players
- Mapfre S.A. Spanish-headquartered global insurer with strong European and Latin American presence. Comparable multi-line insurance carrier profile serving retail and SME customers; similar scale to mid-market European peers of Baloise.
Emerging players
- NN Group: Dutch-domiciled insurance and asset management company, formerly part of ING, focused on life/pension protection and investment management in Europe. Highly comparable hybrid insurance + asset management business model relevant to Baloise Asset Management.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Baloise Group social profiles
Digital presenceBaloise Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Baloise Group leadership team
Management profileNumber of profiles
Profiles3 records
Baloise Group subsidiaries and ownership
Company hierarchySubsidiaries3 records
Baloise Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Baloise Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Baloise Group
What does Baloise Group do?
Baloise Group fundamentally provides insurance coverage (home, car, life, liability, and health), banking services (savings, home financing, retirement planning) through Baloise Bank AG, and professional asset management for both internal and third-party customers. These offerings are delivered through an integrated multi-channel distribution including general agencies, direct online portals, and a customer portal across Switzerland, Germany, Belgium, Luxembourg, and Liechtenstein.
Is Baloise Group a public or private company?
Baloise Group is a public company. It is classified as public and is currently operating.
When was Baloise Group founded?
Baloise Group was founded in 1863. It employs 5,001 to 10,000 people.
Where is Baloise Group based?
Baloise Group is headquartered in Antwerp, Belgium, in the Europe region.
How does Baloise Group make money?
Four revenue lines are on record. Non-Life Insurance is the primary driver. The others are life Insurance, asset Management & Banking and banking Services.
Who are Baloise Group's main competitors?
Broad incumbents on record are AXA SA, Zurich Insurance Group, Assicurazioni Generali and Allianz SE. Direct peers are UNIQA Insurance Group, Vienna Insurance Group (VIG), Swiss Life Holding and Helvetia Insurance. Mapfre S.A. is listed as a regional player. NN Group is listed as an emerging player.
Does Baloise Group have an API?
No public API is recorded for Baloise Group.
What industry is Baloise Group in?
Baloise Group's product category is Insurance and Financial Services. Its primary akta.pro industry code is FSAEAAAA, Comprehensive Financial Planning, with a secondary code of FSAJAFAB, Mid-Market Commercial Package (Package Policies). Its NAICS code is 52411 and its SIC code is 6311.