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baloise sells friday insurance portfolio to allianz direct as part of strategy

Baloise has sold its digital insurer Friday's portfolio to Allianz Direct Versicherungs-AG as part of a strategic shift to focus on more profitable segments. The transaction, expected to be completed by mid-2025, will result in a one-time negative earnings impact of approximately 75 million francs for Baloise, primarily affecting fiscal year 2024. The Friday brand will be discontinued, and most employees will remain until the transition is finalized.
finews.com
Swiss Franc Baloise Bank AG Allianz SE FRA DEU Michael Müller
Finance & Economy, Press Release
07:06 29.10.2024
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