St.Gallen, 3 December 2012
Successful conclusion of the portfolio acquisition and reorganisation of
management at Helvetia France Helvetia has completed the acquisition of the
French transport insurance portfolio of Gan Eurocourtage, a subsidiary of
Groupama SA, announced on 17 July 2012. The transaction was concluded after
supervisory approval. Vincent Letac will become a new member of the Executive
Management of Helvetia France as Deputy CEO. On 1 July 2013 he will replace
Alain Tintelin as CEO, who will then retire.
The acquisition of the Groupama Transport portfolio boosts the existing
premium volume of Helvetia France, which specialises in transport insurance,
to around EUR 230 million, virtually a three-fold increase. With this
acquisition, Helvetia France, the former number five on the French transport
insurance market, will become the strong number two.
Alain Tintelin, who has successfully presided over Helvetia France as CEO
since 1993, will use his wealth of experience to guide the company through the
now impending initial integration phase. He will then retire as of 30 June
2013. He will be succeeded on 1 July 2013 by Vincent Letac, who was elected to
Helvetia France's Executive Management as Deputy CEO as of 1 December 2012.
Vincent Letac has been working for Groupama since 1998, most recently as head
of the Gan Eurocourtage Marine & Transport division.
Stefan Loacker, CEO of Helvetia Group, commented: "Today a new era is dawning
for Helvetia France. I'm convinced that, thanks to this attractive
acquisition, Helvetia will establish a lasting position in France as the best
specialist in the French transport insurance market."
This media release is also available online at www.helvetia.com/en/media.
For further information please contact:
Nicola Maria Breitschopf
and Brand Management
CH-9001 St.Gallen, Switzerland
CH-9001 St.Gallen, Switzerland
Telephone: +41 58 280 56 04
Telephone: +41 58 280 56 88
Fax: +41 58 280 55 89
Fax: +41 58 280 55 89
About Helvetia Group
In over 150 years, Helvetia Group has grown from a number of Swiss and foreign
insurance companies into a successful insurance group that does business
everywhere in Europe. Today, Helvetia has branch offices in Switzerland,
Germany, Austria, Spain, Italy and France, and routes some of its investment
and financing activities through subsidiaries and fund companies in Luxembourg
and Jersey. The Group is headquartered in St. Gallen in Switzerland. Helvetia
is active in the life, property and casualty and reinsurance business, and
almost 4,900 employees provide services to more than 2.5 million customers.
With a business volume of CHF 7.2 billion, Helvetia posted a net profit of CHF
288.7 million in the 2011 financial year. The Helvetia Holding registered
share is traded on the SIX Swiss Exchange under the symbol HELN.
Cautionary note regarding forward-looking statements
This document was prepared by Helvetia Group and may not be copied, altered,
offered, sold or otherwise distributed to any other person by any recipient
without the consent of Helvetia Group. Although all reasonable effort has been
made to ensure that the facts stated herein are correct and the opinions
contained herein are fair and reasonable, where any information and statistics
are quoted from any external source such information or statistics should not
be interpreted as having been adopted or endorsed as accurate by Helvetia
Group. Neither Helvetia Group nor any of its directors, officers, employees
and advisors nor any other person shall have any liability whatsoever for loss
howsoever arising, directly or indirectly, from any use of this information.
The facts and information contained in this document are as up to date as is
reasonably possible but may be subject to revision in the future. Neither
Helvetia Group nor any of its directors, officers, employees or advisors nor
any other person makes any representation or warranty, express or implied, as
to the accuracy or completeness of the information contained in this document.
This document may contain projections or other forward-looking statements
related to Helvetia Group which by their very nature involve inherent risks
and uncertainties, both general and specific, and there is a risk that
predictions, forecasts, projections and other outcomes described or implied in
forward-looking statements will not be achieved. We caution you that a number
of important factors could cause results to differ materially from the plans,
objectives, expectations, estimates and intentions expressed in such
forward-looking statements. These factors include: (1) changes in general
economic conditions, in particular in the markets in which we operate; (2) the
performance of financial markets; (3) changes in interest rates; (4) changes
in currency exchange rates; (5) changes in laws and regulations, including
accounting policies or practices; (6) risks associated with implementing our
business strategies; (7) the frequency, magnitude and general development of
insured events; (8) mortality and morbidity rates; (9) policy renewal and
lapse rates. We caution you that the foregoing list of important factors is
not exhaustive; when evaluating forward-looking statements, you should
carefully consider the foregoing factors and other uncertainties. All
forward-looking statements are based on information available to Helvetia
Group on the date of its publication and Helvetia Group assumes no obligation
to update such statements unless otherwise required by applicable law.
The purpose of this document is to inform the shareholders of Helvetia Group
and the public about the completion of the portfolio acquisition of Gan
Eurocourtage and the organisation of the Helvetia France management. This
document does not constitute an offer or a solicitation to exchange, buy or
subscribe to securities, nor does it constitute an offering circular as
defined by Art. 652a of the Swiss Code of Obligations or a listing prospectus
as defined by the listing rules of the SIX Swiss Exchange. Should Helvetia
Group in the future make one or more capital increases, investors should make
their decision to buy or to subscribe for new shares or other securities
solely based on the relevant offering circular. This document is also
available in German, French and Italian. The German version is binding.
Provider Channel Contact
Tensid Ltd., Switzerland newsbox.ch Provider/Channel related enquiries
www.tensid.ch www.newsbox.ch firstname.lastname@example.org
+41 41 763 00 50
Press spacebar to pause and continue. Press esc to stop.