(ats) The St. Gallen insurer attributes this loss of profitability in particular to the negative result of its investments, as well as to changes in the deployment of a new IT infrastructure in Switzerland, which resulted in depreciation of 40.2 million.
The business volume contracted by 5.2% to 5.66 billion francs, despite an increase of 9.0% to 3.04 billion in non-life business, details the report at mid-point. route broadcast Tuesday.
The combined ratio worsened 3.4 percentage points (pp) to 95.9%, while the new business margin contracted by 0.3 pp to 2.8%.
The group is taking advantage of the publication of its interim results to announce the integration on October 1 of the head of its corporate center, Roland Bentele, into general management.