Home » Business » Baloise’s business volume declines due to good prior-year figures Baloise’s business volume declines due to good prior-year figures November 12, 2020 by world today news insurance Baloise’s business volume declines due to good prior-year figures — The insurer Baloise reports an expected decline in business volume at the end of the third quarter. In the non-life business, on the other hand, the group received more premiums. — — Baloise expected a decline in business volume due to positive effects from the previous year. Keystone — (dpo) The business volume of the Baloise Group fell by 6.5 percent to 6.94 billion Swiss francs in the first nine months of the year. The insurer expected this decline, as it announced on Friday. In 2019, Baloise still benefited from the Axa Group’s exit from the pension fund business, which enabled it to win new customers. Accordingly, Baloise recorded a slump in the traditional life business of almost a quarter to 2.63 billion. The premium income in the non-life segment rose again by 7.9 percent to 3.13 billion. According to the announcement, growth was mainly driven by acquisitions in Belgium. 200 million francs in claims expenses As the insurer announced at the half-year financial statements, the claims expenses in connection with the corona pandemic for the entire financial year amount to CHF 200 million. Baloise does not provide any information on profit in its quarterly results. In the first half of 2020, the group achieved a net profit of CHF 177.7 million. That was less than half that in the first half of 2019. According to the company, the significantly lower profit was due to the absence of tax effects and the corona pandemic. – Related posts:Jeff Bezos Bounced From The 2nd Richest Man, This Is Instead?Air transport, maxi strike on July 26: guaranteed flights"Goldman Sachs CEO warns of impending catastrophe over US debt ceiling standoff"Oil prices fall at settlement [Société] Speed bumps make motorists jump 10 places to see in Midtown Leave a Comment Cancel replyCommentName Email Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed. Search for: