Swiss insurer Baloise is considering board changes, says chairman

Swiss insurer Baloise is considering changes to its board, chairman Thomas von Planta said on Thursday, after the company unveiled plans to boost shareholder returns.

“We want to strengthen the insurance expertise from the board,” von Planta told Reuters in an interview. “We are currently in discussions on this matter” he added.

Baloise was working to make those changes at the 2025 Annual General Meeting, said von Planta, who noted he was open to re-election as president.

Swiss insurer Baloise targets higher returns for shareholders after Cevian move

Baloise revealed theplan to ato revise its strategy after Swedish activist investor Cevian Capital earlier this week announced it became the biggest stakeholder of the company.

TThe Swiss insurer met with representatives of Cevian and other investors when discussing its plans, said the chairman, who called the Swedish firm “very successful”.

“As they say, they (Cevian) see potential in Baloise. We are listening very carefully,” said von Planta, who stressed that the insurer wanted to remain independent.

He said the company was committed to maintaining operations in Switzerland, Germany, Belgium and Luxembourg. Some shareholders called for Baloise to withdraw from Germany.

Baloise hopes to increase its shares in the future, and the company will be able to increase its valuation if the new strategy is successfully implemented, the chairman said.

“I am confident that we will be able to do this,” he said.

(Reporting by Oliver Hirt; Editing by Dave Graham and Rachel More)