Helvetia ends the first half in the red

Helvetia suffered a net loss of CHF 16.9 million over the first six months of the year, compared with a profit of CHF 289.7 million over the same period a year earlier.

The Saint-Welsh insurer attributes this loss of profitability in particular to the negative result of its investments, as well as to changes in the deployment of a new IT infrastructure in Switzerland, which resulted in depreciation of 40.2 million.

The business volume contracted by 5.2% to 5.66 billion francs, despite an increase of 9.0% to 3.04 billion in non-life business, details the report at mid-point. route broadcast Tuesday.

The combined ratio worsened 3.4 percentage points (pp) to 95.9%, while the new business margin contracted by 0.3 pp to 2.8%.

The group is taking advantage of the publication of its interim results to announce the integration on October 1 of the head of its corporate center, Roland Bentele, into general management.



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