Baloise and Gothaer in Merger Talks on German Insurance Operations

The Baloise Group and Gothaer Versicherungsbank VVaG are negotiating about a strategic partnership and a merger of their German insurance activities. A letter of intent has been signed, the companeis said.

Both companies are currently conducting due diligence. The outcome of the negotiations is not clear.

The Baloise Group is Headquartered in Basel, Switzerland and has operations in Continental Europe. Its markets are Switzerland, Germany, Belgium, Luxembourg, Austria, Croatia and Serbia. The Baloise Group employs some 8,000 people. Bâloise-Holding registered shares are included in the Swiss Market Index (SMI).

With more than 3.5 million members and premium income of around 4 billion Euros, Gothaer is one of Germany’s large insurance groups and is one of the largest mutual insurance companies in Germany. Based in Cologne, it employs around 5,500 people and offers all categories of insurance.

Source:
The Baloise Group
www.baloise.com