Bâloise

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Bâloise Holding AG
Type Aktiengesellschaft
Traded as SIXBALN
Industry Financial services
Founded 1863 (Basler Versicherungsgesellschaft gegen Feuerschade)
1962 (Bâloise Holding)
Headquarters Basel, Switzerland
Key people Martin Strobel (CEO), German Egloff (CFO), Rolf Schäuble (Chairman)
Products Insurance, banking, pensions
Revenue CHF 9.485 billion (2010)[1]
Operating income CHF 607.2 million (2010)[1]
Profit CHF 433.4 million (2010)[1]
Total assets CHF 65.39 billion (end 2010)[1]
Total equity CHF 4.134 billion (end 2010)[1]
Employees 7,690 (FTE, end 2010)[1]
Website www.baloise.com

Bâloise Holding AG is a Swiss insurance holding company headquartered in Basel. The company employs approximately 7,500 employees across Europe and is the third largest Swiss all-industry insurance service provider for individuals and businesses.

History[edit]

The Basler Versicherungen was founded in 1863 as Basler Versicherungsgesellschaft gegen Feuerschaden, insuring habitants of Basel against damage from fire. This was prompted by the tragic fire incident in Glarus. In the following year, the company already expanded to covering life and transportation, as well as expanding geographically within Switzerland and abroad. At the end of the decade, the insurer added its own reinsurance business to the portfolio.

By the early 20th century, the business was booming and the company even dabbled in the U.S. market. However, they had exited the U.S. again by the time of the 1906 San Francisco earthquake, avoiding any insurance loss created by that natural catastrophe. World War I presented a difficult time to do business, but Baloise was able to continue expanding internationally even during the depression before World War II. During the War, the headquarters were evacuated due to proximity to both the French and German border and 115 tons of files were moved to a secure location protected by the Swiss army near Saanen. After the war, Baloise was able to grow as part of Europe's economic advances and in 1962, the separate parts of the business all became part of holding structure.

The 1970s and 1980s brought new international subsidiaries, such as in Austria, and acquisitions, including Deutscher Ring Leben in Germany, a majority stake in Mercator in Belgium, and the Providence Washington Insurance Company in the U.S. Many of these businesses were later sold, while new ones were acquired.

The new millennia continues to bring success to the insurer, now pursuing a strategy of becoming a full service financial institution after the acquisition of the Solothurner Bank. The Bank is currently focusing on its strategy called "Baloise 2012" in anticipation of the 150 anniversary of the company.[2]

Holding Structure[edit]

Bâloise Holding operates in Europe through various subsidiaries:

The company is listed on the SIX Swiss Exchange.

After Frank Schnewlin resigned as CEO after six years, Rolf Schäuble has taken the place as interim CEO. On January 1, 2009, Martin Strobel will take the post.

References[edit]

  1. ^ a b c d e f "Annual Report 2010" (PDF). Bâloise. Retrieved 3 April 2011. 
  2. ^ http://www.baloise.ch/website2/chbs580d.nsf/web/150/Geschichte?OpenDocument

External links[edit]