Bâloise insurer posts record profit
Switzerland's fourth-largest insurer Bâloise reported a record net profit of SFr813.8 million ($806.4 million) for 2007, an increase of 15 per cent on the previous year.
The group appointed Martin Strobel, currently head of Bâloise Switzerland, as new chief executive from 2009, to replace Frank Schewlin, who announced his departure in December.
Overall the results significantly beat analysts’ expectations with business volume at the insurer increasing by six per cent.
Shareholders will receive a dividend of SFr4.50 per share, well up on the SFr3.80 payout for 2006. In 2008, Bâloise will continue with substantial share buybacks, a company statement said.
The group said it would aim for good results in 2008, despite volatile financial markets and increasing price and competitive pressures.
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.