Criminal proceedings against former member of the Executive Board: Nationale Suisse's claims for compensation largely upheld

In the middle of October 2009, Nationale Suisse brought a charge against R. L., a former member of the Executive Board. The accusation in question, which was justified from Nationale Suisse's point of view and fully supported by the public prosecutor's office of the Canton of Basel-Stadt when it preferred charges in 2010, was that of multiple counts of aggravated breach of trust regarding property transactions in Switzerland.

The incidents, which took place some years ago, were uncovered during a routine check. As far as was known at the time, the loss sum amounted to around CHF 1.5 million. The Basel-Stadt criminal court has today accepted the principal accusation put forward by the Basel-Stadt public prosecutor's office. The claims for compensation brought against R. L. by Nationale Suisse as private plaintiff have been largely upheld. The funds seized in the course of the proceedings and now awarded to Nationale Suisse by the verdict will enable the loss incurred to be covered to a great extent.


Brief profile

Nationale Suisse is an innovative, international and independent Swiss insurance group providing first-rate risk and pension solutions in non-life and life business as well as a growing number of tailored specialty lines products. Consolidated gross premiums came to CHF 1.8 billion in 2010. The Group comprises the parent company and about 20 subsidiaries and branch offices for focused product lines in Switzerland, Italy, Spain, Germany, Belgium, Liechtenstein, Malaysia, Latin America and Turkey. The headquarters of Swiss National Insurance Company Ltd are in Basel. Nationale Suisse is listed on the SIX Swiss Exchange (NATN). On 30 June 2011, the Group employed 1,932 staff (full-time equivalents).