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Media release
Group News
Mergers & acquisitions

Helvetia completes majority acquisition of Chiara Assicurazioni

Helvetia has completed the acquisition of 51 percent of Italy's Chiara Assicurazioni, as announced on 20 November 2012. The stake was acquired from Banco di Desio, as well as other partner-banks, who reduced their shares in the company. The transaction was concluded after supervisory authorities issued their approval.
As a non-life insurer founded in 2006, Chiara Assicurazioni reached a premium volume of EUR 32.5 million in 2012. Through Chiara Assicurazioni, Helvetia gains access to the distribution network maintained by Banco di Desio and further partner banks. The network encompasses over 1,300 bank branches and gives Helvetia a significantly stronger market presence in the attractive regions of Northern and Central Italy.

Furthermore, Helvetia acquired Banco di Desio's minority interest of 30 percent in Chiara Vita as of the start of 2013. It now holds all the equity of this life insurance company. Chiara Vita generated a premium volume of around EUR 473 million in 2012. Helvetia renewed its sales agreement for life insurance with Banco di Desio for another ten years. The agreement has been in force since 2008.

This media release is also available online at

Contact information
Helvetia Group
Susanne Tengler
Investor Relations
Dufourstrasse 40
CH-9001 St.Gallen, Switzerland

Telephone: +41 58 280 57 79
Fax: +41 58 280 55 89
Helvetia Group
Andreas Notter
Corporate Communications
and Brand Management
Dufourstrasse 40
CH-9001 St.Gallen, Switzerland

Telephone: +41 58 280 57 61
Fax: +41 58 280 55 89
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