Zurich Financial Services (ZFS) has sold its 21% stake in Bâloise for SFr1.72bn (£711.8m). The move is part of the company's divestment programme to focus on core business and to reduce debt levels.
The sale takes ZFS's announced divestitures past $5bn (£3.4bn), exceeding its divestiture target of $4bn (£2.7bn).
Bâloise was sold, through JP Morgan, to The Strategic Money Management Company (SMM), a Dutch investment company managed by ABN Amro. The sale produced a pre-tax capital gain of SFr 196.5m (£81.3m) for ZFS.
ZFS said it would continue to hold shares and options to acquire Bâloise shares amounting to approximately 6% of its outstanding capital.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
