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Insurance Group – Helvetia achieves the forecasts approximately News

Monday, September 4th, 2017 | Economy

According to IFRS accounting, the group's net profit rose by 13% to CHF 210.1 million. The operating result from the business activities (after tax), which Helvetia focuses on due to the distortions of the IFRS profit by acquisition effects, rose by 8.4% to 258.4 million
The integration of the companies Suisse Suisse and Basler Austria, acquired in 2014, is approaching the conclusion, according to the announcement published on Monday. As a result, business activities already included synergies before taxes of CHF 62.0 million (previous year: EUR 51.4 million).
In non-life insurance, the combined ratio for the industry improved slightly by 0.6 percentage points to 91.3%, while the adjusted result in life insurance rose by 4.2% to 92.2 million.
The Group's business volume grew slightly by 0.3% in local currencies, reaching CHF 5.53 billion. Gross premium income was 5.46 billion compared to 5.49 billion in the prior-year period.
In its balance sheet, Helvetia reported equity of CHF 4.81 billion after just as much at the end of 2016, with the SST ratio at the end of the year reaching 140-180%.
Helvetia has approximately achieved the average expectations of the analysts (AWP consensus) with the key figures. These had anticipated an IFRS profit of CHF 209.2 million, gross premiums of 5.53 billion and a combined ratio of 91.5%. Experts estimated the experts' equity at 4.84 billion
"This strategy will make Helvetia more agile, innovative and customer-centered, as well as creating the prerequisites for making the most of the opportunities offered by digitization."
Since the beginning of the year, the insurer has been following the guidelines of the "helvetia 20.20" strategy program. According to this, Helvetia plans to increase its volume of business by 10 billion CHF by 2020 (2016: 8.5 billion). In non-life insurance, the combined ratio should be kept below the 93% mark and the return on equity should be between 8 and 11%.
(AWP)

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