Helvetia ends the first half in the red


(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.

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