– Helvetia opens branch in Great Britain
Thanks to the move, the insurer will be able to do business in non-life insurance on the island even after Brexit.
Published today at 7:39 am
The headquarters of the Helvetia insurance group in St. Gallen.
Image: Gian Ehrenzeller/Keystone
Helvetia opens a new branch in Great Britain. This means that the insurer will be able to conduct non-life insurance business on the island even after Brexit.
The company announced on Monday that the opening of the branch was a response to Brexit. As a result, British business could only be written under the freedom to provide services until December 31, 2023. Thanks to the opening of the branch and the corresponding approval, Helvetia can now continue its activities.
“The opening of this additional branch is a further step towards the internationalization of the Helvetia Group,” CEO Fabian Rupprecht is quoted as saying in the report. It will contribute to profitable growth as part of the 20.25 strategy.
In Great Britain, Helvetia is already offering so-called “specialty lines coverage” through a subsidiary, which covers major corporate risks in the areas of aviation or transport, for example. A premium volume of around €50 million is expected for the British branch in 2023. The gross written premiums of Helvetia Global Solutions totaled €508 million at the end of 2022.
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2023-10-30 10:03:20
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