Needless to say that 2020 will be remembered for the Covid-19 pandemic, the impacts of which will continue to have an effect on global health and economy over the coming months, although we do hope that we are now on the road to recovery.
Against this complex backdrop, on 25 June last year Helvetia successfully completed the acquisition of an almost 70% holding in Caser, thus becoming its main shareholder. The main distributor banks, Ibercaja, Unicaja and Liberbank, decided to retain holdings in the Company, thus consolidating the bank-insurance model that has made the Company what it is for decades.
Shortly after this acquisition process, Caser’s integration into the Helvetia Group was launched, as part of one of the most ambitious projects that the Group has embarked upon in recent years. The months of mandatory lockdown did not prevent the necessary work from being completed to make decisive progress in coordinating teams and systems that, within the expected time frame, will make it possible to streamline the corresponding structures and ensure that Caser is incorporated as efficiently as possible into a European Group that now has more than eleven thousand employees and seven million customers.
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Markus Gemperle
CHAIRMAN
Obviously, 2020 has been a unique year, both in terms of our business group and at a macroeconomic level, with events that have had a significant impact, and that will continue to do so, on our lives.
At the begining of 2020, Helvetia started the process of acquiring a holding of almost 70% in Caser; this transaction was legally completed in June, once the corresponding regulatory requirements were completed. This marked the beginning of a new era, ending the shareholding uncertainties seen in recent years as a result of the restructuring of the former savings banks and the consolidation of the Spanish financial sector.
We now form part of one of the strongest insurance groups in Europe, which in the project’s strengths and Caser’s strategy has found the perfect complement to strengthen its business, significantly expand its already attractive range of Non-Life products and increase its sales opportunities in Spain, and the market has understood this expansion as a strategic priority.
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Ignacio Eyriès
GENERAL MANAGER
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