Helvetia and Raiffeisen go their separate ways

After 20 years of successful cooperation, Helvetia and Raiffeisen have decided to dissolve their exclusive sales cooperation by mutual agreement. This allows the two companies to flexibly pursue their own strategic goals independently of each other, according to the media release issued on June 17, 2020. Raiffeisen Switzerland had already put the cooperation out to tender in the first half of 2019, the communiqué added.

Helvetia and Raiffeisen: A relationship ends

The partnership between the insurance and financial services provider has existed since 1999, during which time both companies have successfully developed: Raiffeisen became a systemically important Swiss banking group, Helvetia became the leading Swiss bancassurance company in Switzerland with a strong second pillar in Europe. With its many years of experience in the bancassurance business in the areas of residential property protection, investments and pensions, Helvetia intends to tap into additional business areas and drive forward the development of its ecosystems as technological change continues. In doing so, the insurer will pursue even more targeted digital paths to realize innovations and cooperations.

Customer relationships not affected

The decision will not affect existing customer relationships between Raiffeisen and Helvetia, they said. Customer service will continue to be provided by Helvetia in a professional and needs-based manner. Helvetia generated a business volume in the mid-double-digit million range via Raiffeisen's sales channels in the 2019 financial year, primarily in the Swiss individual life business, which corresponds to slightly less than 10 percent of new business in this area. The resulting contribution to earnings had only an insignificant impact in the low single-digit million range on Helvetia's profit in 2019.

Source and further information: www.helvetia.ch