Basel, 15 August 2022. In Germany, Baloise sells a hospital liability portfolio that is currently in run-off to Bothnia International Insurance Company Ltd., a subsidiary of Bermuda headquartered, international legacy group Compre. The closing of the transaction is expected in the second half of 2022.

Basler Sachversicherungs-AG in Germany is selling its hospital liability portfolio, which is in run-off. The portfolio has been closed to new business since 2018. The sale includes the entire portfolio of the hospital liability portfolio of Basler Sachversicherungs-AG in Germany with provisions of around EUR 200 million.

The purchaser of the portfolio is Bothnia International Insurance Company Ltd. based in Finland, which is part of Compre group. The transfer is subject to the approval of the German Federal Financial Supervisory Authority BaFin. The parties have agreed not to disclose the purchase price.

The Ecclesia Group Assekuranz Service GmbH, based in Detmold, continues to provide support for existing customers in claims settlement.

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The Baloise Group is more than just a traditional insurance company. The changing security, safety and service needs of society in the digital age lie at the heart of its business activities. The 7,900 or so employees of Baloise therefore focus on the wishes of their customers. The best possible customer service, combined with innovative products and services, makes Baloise the first choice for people who want to feel ‘simply safe’. Located at the heart of Europe, with its head office in Basel, the Baloise Group is a provider of prevention, pension, assistance and insurance solutions. Its core markets are Switzerland, Germany, Belgium and Luxembourg. In Switzerland, the Group also operates as a specialised financial services provider, offering a combination of insurance and banking services. The Group offers innovative pension products to retail customers throughout Europe from its competence centre in Luxembourg. Bâloise Holding Ltd shares are listed in the main segment of the SIX Swiss Exchange.