Swiss insurers Helvetia and Baloise to merge to create top 10 company
ZURICH (Reuters) -Helvetia and Baloise plan to merge to create Switzerland's second-largest insurance group with a combined business volume of 20 billion Swiss francs ($24.69 billion), the pair said on Tuesday. The new group, to be called Helvetia Baloise Holding, will become one of the ten largest insurers in Europe, under what the two companies called a "merger of equals" with an even spread of senior executives and board members. The deal, which is expected to be completed in the fourth quarter of 2025, is the latest in the insurance sector after Belgium's Ageas agreed to buy British car and home insurer esure for 1.3 billion pounds last week.