Baloise wants to expand its innovation portfolio


Baloise is currently worth around CHF 8.3 billion on the stock exchange.

(Photo: dpa)

Zürich The Swiss insurance group Baloise wants to continue investing in new business approaches and digital offerings. In four years, the “innovation portfolio” should be worth around one billion francs (902 million euros), said Baloise boss Gert De Winter on Tuesday.

Since 2017, the Basel-based company has had around 200 million francs in start-ups such as the online insurance company Friday and the automobile subscription provider AboDeinauto in Germany, the moving and cleaning service platforms Movu and Batmaid in Switzerland or the digital property manager Keypoint in Belgium stuck.

De Winter did not want to say how much the portfolio was currently worth, but offered information on the future. Some investments are profitable, but in most cases they are investments in the future, the Baloise boss admitted. The aim is to generate an additional business volume of more than CHF 350 million via these mostly digital platforms and offers by 2025.

On the stock exchange, Baloise, which posted a decline in profits last year due to claims payments and value adjustments in connection with the coronavirus crisis, is currently worth around 8.3 billion francs.

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