Helvetia: Good results in the first half of the year

21st September 2021
-IAM, News

Olivier Aeschlimann, Senior Financial Analyst

Despite difficult conditions, the insurer Helvetia published a good set of results for the first half of 2021. Indeed, while weather damages last summer amounted to around CHF 70 million, gross premiums increased by +21 % and the combined ratio (ratio between premiums collected and the cost of claims) even improved, going from 95.9% a year ago to 94.05% at the end of the semester. The investment results also improved to CHF +1.15 billion, compared to a loss of CHF -30 million last year. By area of ​​activity, it is mainly the non-life business that has made the most progress. However, the acquisition of Spanish insurer Caser is responsible for two-thirds of the + 31.5% growth in this segment. In the life business, growth was more modest at + 8.7%. For the future, the insurer is sticking to the targets communicated at the end of March. The group wants to reduce costs by CHF 100 million per year until 2025 and achieve a combined ratio between 92% and 94%. It also intends to increase the dividend or at least keep it at a stable level.