The Baloise Group expects to have generated a profit of well over CHF 300 million for the first half of 2019. In addition to the encouraging operating performance over the last six months, this exceptional result is also attributable to the effects of Switzerland’s cantonal tax reform. Under International Financial Reporting Standards (IFRS), these effects resulted in the reversal of tax provisions, which will have a positive one-off impact on earnings in the 2019 financial year.
Baloise will publish its half-year financial statements for 2019 on 28 August.