| Helvetia Switzerland concludes sale of health/accident portfolio |
| 30.12.11 18:09 | |
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Helvetia Switzerland has concluded the sale of its health and accident portfolio announced on 15 September 2011 to the two insurance companies innova and Solida. It is therefore consistently implementing its chosen strategy. With its purchase of the insurance companies Alba and Phenix in September 2010 Helvetia Insurance also acquired a health and accident portfolio. For strategic reasons Helvetia withdrew from this business a few years ago and now offers these services in cooperation with its partners. For this reason Helvetia decided to sell this portfolio, which comprises less than one percent of Helvetia Switzerland's premium volume. The authorities concerned have agreed to the sale to the insurance companies innova and Solida. These two companies will take over around CHF 26.5 million in premium volume as well as the employees who work in this field. It has been agreed that the purchase price will remain confidential. Distribution agreement with innova In addition, Helvetia has concluded a distribution agreement with innova. The insured will continue to be supported by Helvetia's sales force and will keep their previous advisors following the sale. The cooperation of many years' standing with Helsana will remain in place. Concentration on core business With this sale Helvetia is remaining true to its strategy of offering health and accident insurance with its cooperation partners. "We are concentrating on our core business," Philipp Gmür, CEO of Helvetia Switzerland, explains. "The sale of the portfolio illustrates that we will continue to follow our chosen strategy consistently." This media release can also be found on our homepage . |
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