Pre-tax profit decreased by 11% to CHF341m for H1 18 compared to the same period last year. H1 18 was burdened by the addition of CHF46.8m to reserves for a run-off portfolio in the German non-life business. This reduced profit by a net CHF32.4m in H1 18. Net premiums earned were down by 3% to CHF3.77bn. Investment income rose by 2% to CHF732m for H1 18 compared to H1 17. “Realised gains and losses on investments at the risk of life insurance policyholders and third parties” switc
28 Aug 2018
Mixed H1 figures, again additional reserve needs in Germany
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Mixed H1 figures, again additional reserve needs in Germany
Baloise-Holding AG (0QQ3:LON) | 0 0 0.1% | Mkt Cap: 7,154m
- Published:
28 Aug 2018 -
Author:
Dieter Hein -
Pages:
2
Pre-tax profit decreased by 11% to CHF341m for H1 18 compared to the same period last year. H1 18 was burdened by the addition of CHF46.8m to reserves for a run-off portfolio in the German non-life business. This reduced profit by a net CHF32.4m in H1 18. Net premiums earned were down by 3% to CHF3.77bn. Investment income rose by 2% to CHF732m for H1 18 compared to H1 17. “Realised gains and losses on investments at the risk of life insurance policyholders and third parties” switc