Change in the Executive Management: Donald Desax will retire and Martin Jara will take over as new CEO Switzerland

2019

17.12.2019 - Helvetia Holding AG Change in the Executive Management: Donald Desax will retire and Martin Jara will take over as new CEO Switzerland

Media release

St. Gallen, 17 December 2019

Change in the Executive Management: Donald Desax will retire and Martin Jara will take over as new CEO Switzerland

Donald Desax, Head of the Occupational Pensions Switzerland market area and member of the Executive Management of the Helvetia Group, will retire at his own request during the first half of 2020. His successor will be appointed during the next few months. The management structure will also be adjusted for the next strategy period. Martin Jara will join Helvetia as new CEO Switzerland in the first half of 2020.

At his own request, Donald Desax, Head of the Occupational Pensions Switzerland market area and member of the Executive Management of the Helvetia Group, will retire during the first half of 2020. After completing his law degree, Donald Desax, 60, joined the former Patria Lebensversicherungs-Gesellschaft as corporate customer advisor for occupational benefits in 1986. From 1990 to 1995, he was the managing director of Servisa (now Swisscanto). He was appointed to the Executive Management of Helvetia Switzerland in 1996. Since then, Donald Desax has been in charge of the second pillar business, for the last three years as member of the Executive Management.

'Donald Desax positioned Helvetia as a leading provider of occupational benefits and always met new challenges with competence and far-sightedness,' says Philipp Gmür, CEO of the Helvetia Group. He continues: 'He has made a decisive contribution to this industry for more than 30 years. I would like to warmly thank him for his successful contribution and wish him all the best for the next stage of his life.' The successor of Donald Desax will be appointed during the next few months.

Adjustment of management structure and new CEO Switzerland

The management structure of the Helvetia Group will be adjusted for the next strategy period. The operating Swiss units 'Private Pensions', 'Occupational Pension Plans', 'Non-Life' and 'Distribution' will be merged under a single Switzerland management team from 01.05.2020 and will no longer be represented in the Executive Management. The Executive Management Switzerland will in future be headed by Martin Jara, a newcomer to Helvetia who will sit on the Executive Management. Martin Jara is 47 and holds a doctorate in economics from the University of St. Gallen. As member of the executive management of Allianz Suisse, he is currently in charge of all distribution channels. 'With his many years of operational and strategic experience in the Swiss insurance market, Martin Jara will be a strong asset for our management team,' says Philipp Gmür. He continues: 'The adapted management structure will help us to powerfully and selectively develop our business in our home market. I look forward to working with Martin Jara and wish him every success in his new task.'

This media release is also available on our website

www.helvetia.com/media.

For further information please contact:

Analysts Susanne Tengler Head of Investor Relations Phone: [phone] [e-mail]

Media Nadja Häberli Senior Manager Corporate Communications & PR Phone: [phone] [e-mail]

About the Helvetia Group

In 160 years, the Helvetia Group has grown from a number of Swiss and foreign insurance companies into a successful international insurance group. Today, Helvetia has subsidiaries in its home market Switzerland as well as in the countries that make up the Europe market area: Germany, Italy, Austria and Spain. With its Specialty Markets market area, Helvetia is also present in France and in selected regions worldwide. Some of its investment and financing activities are managed through subsidiaries and fund companies in Luxembourg. The Group is headquartered in St.Gallen, Switzerland.

Helvetia is active in the life and non-life business, and also offers customised specialty lines and reinsurance cover. Its business activities focus on retail customers as well as small and medium-sized companies and larger corporates. With some 6,600 employees, the company provides services to more than 5 million customers. With a business volume of CHF 9.07 billion, Helvetia generated an IFRS result after tax of CHF 431.0 million in financial year 2018. The registered shares of Helvetia Holding are traded on the SIX Swiss Exchange under the symbol HELN.

Cautionary note

This document was prepared by Helvetia Group and may not be copied, altered, offered, sold or otherwise distributed to any other person by any recipient without the consent of Helvetia Group. The German version of this document is decisive and binding. Versions of the document in other languages are made available purely for information purposes. Although all reasonable effort has been made to ensure that the facts stated herein are correct and the opinions contained herein are fair and reasonable, where any information and statistics are quoted from any external source such information or statistics should not be interpreted as having been adopted or endorsed as accurate by Helvetia Group. Neither Helvetia Group nor any of its directors, officers, employees and advisors nor any other person shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this information. The facts and information contained in this document are as up to date as is reasonably possible but may be subject to revision in the future. Neither Helvetia Group nor any of its directors, officers, employees or advisors nor any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document.

This document may contain projections or other forward-looking statements related to Helvetia Group which by their very nature involve inherent risks and uncertainties, both general and specific, and there is a risk that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include: (1) changes in general economic conditions, in particular in the markets in which we operate; (2) the performance of financial markets; (3) changes in interest rates; (4) changes in currency exchange rates; (5) changes in laws and regulations, including accounting policies or practices; (6) risks associated with implementing our business strategies; (7) the frequency, magnitude and general development of insured events; (8) mortality and morbidity rates; (9) policy renewal and lapse rates as well as (10), the realisation of economies of scale as well as synergies. We caution you that the foregoing list of important factors is not exhaustive; when evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties. All forward-looking statements are based on information available to Helvetia Group on the date of its publication and Helvetia Group assumes no obligation to update such statements unless otherwise required by applicable law.