Baloise Holding AG (CHIX:BALNz)
CHF 196.3 +0.80 (+0.41%) Market Cap: 8.94 Bil Enterprise Value: 11.98 Bil PE Ratio: 23.22 PB Ratio: 2.47 GF Score: 46/100
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Full Year 2024 Baloise Holding AG Earnings Call Transcript

Mar 25, 2025 / 10:30AM GMT
Release Date Price: CHF188.6 (+3.71%)

Key Points

Positve
  • Baloise Holding AG (BLHEY) successfully initiated its refocusing strategy and is on track to meet new ambitious targets.
  • The company reported strong underlying results with growth in target segments, particularly in Non-life and investment-type premiums.
  • Baloise Holding AG (BLHEY) achieved a significant increase in return on equity from 7.2% to 13.9%, aligning with their target range of 12% to 15%.
  • The company increased its cash remittance to CHF565 million, including a nonrecurring contribution from the optimization of the Belgium Life backlog.
  • Baloise Holding AG (BLHEY) proposed an increased dividend of CHF8.10 per share and announced a planned share buyback of CHF100 million, raising the total cash payout ratio to 83%.
Negative
  • The Life segment experienced a decline in growth, reflecting a continuing trend in Swiss group life towards semi-autonomous solutions.
  • The company faced a negative impact of EUR 92 million from the sale of the Friday portfolio and the discontinuation of the ecosystem strategy.
  • The combined ratio improved but still requires further work to reach the target of about 90%, with the current expense ratio at 29.9%.
  • Non-life cash remittance was slightly lower than the previous year, attributed to shifts within the business portfolio.
  • The restructuring and optimization in Belgium resulted in a slight decline in premiums due to the exit from the Marine business.
Operator

Ladies and gentlemen, welcome to the Baloise full-year 2024 results conference call and Audio Webcast. I'm Valentina, the Chorus Call operator. (Operator Instructions)

The conference must not be recorded for publication or broadcast.

At this time, it's my pleasure to hand over to Markus Holtz, Head of Investor Relations. Please go ahead.

Markus Holtz
Baloise Holding AG - Head of Investor Relations

Good morning. Thank you for joining, and welcome to Baloise Q&A call about our annual results 2024. In our call today, we have our CEO, Michael Muller; our CFO, Carsten Stolz; and our CIO, Matthias Henny. We start with a quick overview of our results. For this, I hand over to Michael.

Michael Mueller
Baloise Holding AG - Chief Executive Officer, Member of the Corporate Executive Committee

Thank you, Markus. Dear analysts, dear investors, ladies and gentlemen, I am happy to welcome you together with Carsten Stolz, our Group CFO; and Matthias Henny, our group CIO. Since launching our new strategy

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