Insurance companies Up to 500 jobs affected by Helvetia's efficiency program
Helvetia Insurance wants to improve its operating efficiency and cut costs, as announced at the Investors' Day in mid-December. This is likely to involve the relocation or even loss of jobs.
03.01.2025, 16:04
SDA
The expansion of the online insurer Smile into Spain is also under scrutiny. At the Investors' Day, the new CEO Fabian Rupprecht announced a CHF 200 million efficiency program. Rupprecht told the Bloomberg news agency after the event that the planned measures would affect around 500 jobs across the Group.
Today, Friday, the insurer confirmed Rupprecht's statements at the request of the news agency AWP. The financial portal "Insideparadeplatz" had also previously reported on this. At the end of 2023, the Helvetia Group employed a total of 13,800 people, around 4,000 of whom were based in Switzerland.
Switzerland hardest hit
The Swiss business is also the most affected by the restructuring. According to Helvetia, 200 to 250 jobs will be lost in the Swiss market unit. Some of these will be relocated abroad. However, as the implementation of the measures will be spread over three years, the sheer number of job losses can be limited by natural fluctuation.
The restructuring will also affect Spain, where Helvetia has recently gained considerable weight with the acquisition of the Caser Group. In Spain, the Group will concentrate on exploiting synergies between the companies over the next few years, Helvetia confirmed in December.
The expansion of Smile into Spain has been halted for the time being. The company will continue to use the skills and experience gained there by the online subsidiary under the Helvetia brand and integrate the teams and customer relationships concerned into the Spanish unit, it said.
No comment on Germany
According to the information provided, the decision made for Spain has no influence on Smile's strategy in Switzerland and Austria. It also has no financial implications. Helvetia did not comment on the future of the German part and the rumors circulating about a possible sale.
