Baloise proves to be a reliable partner for occupational pensions once again in 2023

Baloise Holding AG / Key word(s): Miscellaneous Baloise proves to be a reliable partner for occupational pensions once again in 2023 22.05.2024 / 07:00 CET/CEST Basel, 22 May 2024. Despite a changeable investment environment, Baloise has once again demonstrated its reliability as an occupational pension provider. Earnings of CHF 46.5 million are testimony to this, as is the sum of CHF 80 million allocated to the surplus fund. Comprehensive BVG insurance customers received an attractive interest rate of 1.50 per cent on their retirement savings above the income threshold in 2023. The number of signed-up companies increased once again. More than 19,400 contracts speak to the fact that Baloise’s broad product offering – ranging from comprehensive BVG insurance contracts to partially autonomous solutions – addresses the needs of customers extremely well. Pension provision continues to face significant challenges that are putting pressure on political decision-makers and the electorate to take action.

Trading in 2023 was upbeat following a turbulent 2022. Despite the persistent geopolitical tensions and economic uncertainty, the financial markets were extraordinarily resilient. Realised gains on equities and an increase in distributions from alternative financial assets had a positive effect on earnings. However, the strong Swiss franc necessitated more foreign currency hedging, meaning that net investment income was marginally down overall.

Comprehensive BVG insurance continues to meet customer needs
Baloise’s range of occupational pensions includes comprehensive BVG insurance contracts and partially autonomous solutions. Demand for comprehensive BVG insurance from Baloise increased compared with the prior year. A total of CHF 80 million was allocated to the surplus fund. In the area of retirement savings above the income threshold, a net interest income of 1.25% and thus a total interest rate of 1.5% was distributed to customers. The payout rate for business subject to the minimum quota was 92.5 per cent. Baloise’s comprehensive BVG insurance model is proving to be an attractive solution amid geopolitical volatility as it gives customers comprehensive peace of mind due to the investment risk being borne by Baloise Life.