Baloise Group

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.

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

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

• Insurance services
• Asset management
• Retirement planning
• Banking services
• Life insurance

Headquarters

HQ city

Antwerp

HQ country

Belgium

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. 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%.
2. Life Insurance: Traditional and unit-linked life insurance, health insurance, and retirement planning solutions. EBIT of CHF 282.3 million in 2024.
3. 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.
4. 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

Core 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

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration20 records

AI capability6 records

Feature2 records

Partnerships

Three partnerships are on record, tiered flagship and core.

• HelvetiaflagshipStrategic or Co-development Partner · 22 April 2025Transformational 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.
• GooglecoreTechnology or Integration · 1 January 2024Baloise 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.
• VeezoocoreTechnology or Integration · 1 January 2018Veezoo 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

Broad 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

• YouTubeyoutube.com/user/BaloiseGroup
• Facebookfacebook.com/baloisech
• LinkedInlinkedin.com/company/baloisegroup
• Instagraminstagram.com/baloisech
• Xx.com/baloise_group

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Baloise Group