Helvetia Holding AG (OTCPK:HLVTY)
$ 3.49 0 (0%) Market Cap: 7.38 Bil Enterprise Value: 9.05 Bil PE Ratio: 29.07 PB Ratio: 2.36 GF Score: 54/100
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Helvetia Holding AG to Acquire Majority Stake in Spanish Caser Call Transcript

Jan 24, 2020 / 10:00AM GMT
Release Date Price: $3.5
Operator

Ladies and gentlemen, welcome to the analyst conference call on the acquisition of the Spanish insurance company, Caser, by Helvetia. I am Alessandro, the Chorus Call operator. (Operator Instructions)

At this time, it's my pleasure to hand over to Mr. Philipp Gmür, Group CEO. Please go ahead, sir.

Philipp Gmür
Helvetia Holding AG - CEO

Thank you. Ladies and gentlemen, welcome to our conference call. We are very pleased to be able to inform you today that we reached another milestone that perfectly fits with our current strategy. Helvetia is acquiring a majority stake in the Spanish insurer, Caser. This acquisition will considerably reinforce the European business as the second pillar of the group. We will be gaining substantial market share in Spain, and together with Caser, we will improve our positioning to a meaningful #7 in non-life. Moreover, we will not only be significantly strengthening our core business but also improve the business mix for the group through a higher share of non-life and a more balanced geographical mix.

Helvetia

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