Helvetia Baloise Holding Ag · SIX:HBAN
Helvetia Baloise — Corporate Update (December 2025)
20 slides from Helvetia Baloise's corporate update, Dec 8, 2025
Slide 1: Conference Call on Helvetia Baloise Pro Forma Financial Information
Conference Call on Helvetia Baloise Pro Forma Financial Information Matthias Henny, Group CFO Helvetia Baloise 8 December 2025
Slide 2: Overview of contents
Overview of contents 1) Key messages and preliminary remarks 2) Pro Forma Financial Information 3) Outlook and next milestones 4) Appendix 2
Slide 3: Key messages
Key messages Merger of equals to form Helvetia Baloise completed on 5 December 2025. 1 Previous communication on benefits of the deal, including on cash and dividend capacity uplift, remain valid. Preparation for operational integration well advanced. Next update to follow at the CMD on 15 April 202
Slide 4: Previously communicated commitments remain valid
Previously communicated commitments remain valid Merger highlights (as announced 22 April 2025) Creating a leading European insurer strongly anchored in the Swiss market Business volume CHF 20 Bn ✓ Establishing the #2 insurance group in Switzerland with a ~20% market share 1 and a unique insurebanki
Slide 5: Main assumptions used in the PFFI
Main assumptions used in the PFFI • Absorption merger treated as an acquisition under IFRS. Baloise assets and liabilities are recognised at fair value in the balance sheet of Helvetia Baloise. • Pro Forma Financial Information (PFFI) show assets acquired and liabilities assumed from Baloise as well
Slide 6: Main accounting topics raised by the merger
Main accounting topics raised by the merger A Intangibles C Non-life: Shift of E Finance result (ex goodwill) LIC to LRC1 New locked-in interest rates have a temporary effect on All identifiable non-monetary Non-life contracts acquired in investment income and assets without physical their settlemen
Slide 7: Pro forma combined equity of CHF 14bn
Pro forma combined equity of CHF 14bn Equity bridge: HY25 to pro forma combined Total equity Notes in CHF bn, as at 30 June 2025 Pro forma combined equity of CHF 13.9bn resulting from Helvetia's equity and the purchase Equity increase price of CHF 9.7bn allocated to… +9.7 1 Baloise's tangible equity
Slide 8: Pro forma combined CSM of CHF 9bn
Pro forma combined CSM of CHF 9bn CSM bridge: HY25 to pro forma combined Contractual service margin Notes in CHF bn, gross of ceded reinsurance and tax, as at 30 June 2025 Pro forma combined CSM of CHF 8.9bn of which life CHF 8.5bn and non-life CHF 0.4bn. 1 2 Baloise's insurance contract liabilities
Slide 9: Pro forma net income materially impacted by accounting
Pro forma net income materially impacted by accounting Net income bridge: HY25 to pro forma combined Main items to be aware of and their impact in the HY25 PFFI IFRS net Income Many one-off accounting effects in CHF m, half-year 2025 1 Non-life CSM release: CHF +62.3m (to D included. Main items we c
Slide 10: Dividend capacity uplift expected
Dividend capacity uplift expected Key financial benefits of the transaction (as announced 22 April 2025) Cost Additional cash Dividend synergies generation capacity uplift4 ~CHF 350 M ~CHF 220 M ~20% uplift run-rate1 on top of existing run-rate by financial year 2029 efficiency plans2 80% of which t
Slide 11: Next update to follow at CMD, April 2026
Next update to follow at CMD, 15 April 2026 Timeline Helvetia Baloise Start of Completed Transaction Capital Day 1 operational process steps closing Markets Day integration 22 April – 1 December 5 December 8 December Starting now 15 April 2026 • Public announcement of the • Transaction closed • List
Slide 12: Appendix
helvetia A }baloise Appendix
Slide 13: PFFI FY24 and HY25 Baloise adjusted Balance Sheet
PFFI FY24 and HY25 Baloise adjusted Balance Sheet Baloise adjusted Balance Sheet as at 31 December 2024 Baloise adjusted Balance Sheet as at 30 June 2025 13
Slide 14: PFFI FY24 Balance Sheet
PFFI FY24 Balance Sheet Pro-forma balance sheet – as at 31 December 2024 14
Slide 15: PFFI HY25 Balance Sheet
PFFI HY25 Balance Sheet Pro forma balance sheet – as at 30 June 2025 15
Slide 16: PFFI FY24 and HY25 Baloise adjusted Income Statement
PFFI FY24 and HY25 Baloise adjusted Income Statement Baloise adjusted Income Statement as at 31 December 2024 Baloise adjusted Income Statement as at 30 June 2025 16
Slide 17: PFFI FY24 Income Statement
PFFI FY24 Income Statement Pro forma income statement – as at 31 December 2024 17
Slide 18: PFFI HY25 Income Statement
PFFI HY25 Income Statement Pro forma income statement – as at 30 June 2025 18
Slide 19: Contact details Helvetia Baloise Group
Contact details Helvetia Baloise Group Investor Relations Peter Eliot Markus Holtz Horst Becker Alexandra Engesser Alessandra Albisetti Szalay Head of Investor Relations Deputy Head of Investor Relations Investor Relations Manager Investor Relations Manager Investor Relations Coordinator T: +41 58 2
Slide 20: Legal Disclaimer on Forward Looking Statements
Legal Disclaimer on Forward Looking Statements Cautionary note This document was prepared by Helvetia Baloise Holding Ltd (“Helvetia Baloise”) and may not be copied, altered, offered, sold or otherwise distributed to any other person by any recipient without the consent of Helvetia Baloise. The Engl
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