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Helvetia and Baloise Merger

On 23 May 2025, shareholders of Helvetia and Baloise approved the merger that was announced by the two insurance groups to “Helvetia Baloise Holding Ltd”.


This merger is a milestone in the Swiss insurance industry. With a combined business volume of CHF 20 billion across eight countries, Helvetia Baloise Holding Ltd will become the second largest insurance group in Switzerland and a leading European insurer.

Patria Genossenschaft, as the largest shareholder of Helvetia, supports the merger. With the aim of effectively maintaining its position as anchor shareholder post-merger, Patria Genossenschaft has purchased from Cevian Capital 4,282,758 shares in Baloise Holding Ltd.

Reichlin Hess AG acted as legal advisor of Patria Genossenschaft in connection with this merger and related transactions, with a focus on its position as anchor shareholder. The Reichlin Hess team was led by Paul Thalmann and included Denise Brügger, Christian Maeder (Tax), Alessa Waibel and Sina Kurath.

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