Helvetia Holding AG
/ Key word(s): Expansion
Smile now active on the Spanish market
28.11.2023 / 07:00 CET/CEST
Media release
St.Gallen, 28 November 2023
smile.mobility is the first product that the leading Swiss online insurance company Smile is launching on the Spanish market today. This liability insurance product for e-scooters offers a 100% digital, simple and fast customer experience. In cooperation with Helvetia Seguros and Caser, further products are planned for 2024.
Helvetia is launching the successful business model of the leading Swiss online insurer in Spain. The launch, which has run according to plan, marks an important milestone for the continued international scaling of Smile, following its launch on the Austrian market a year ago. The liability insurance product for e-scooters, electric scooters, e-bikes and other two- or three-wheeled motor vehicles with a maximum speed of 25 km/h represents a first step towards giving Spanish customers access to Smile's unique value proposition.
Close cooperation within the Helvetia Group
Smile pursues a complementary business model that serves the increasing demand among customers for digital insurance solutions. It is planning to expand its product range together with Caser and Helvetia Seguros in 2024. Both companies have many years of experience and expertise in the development of innovative products in Spain.
Fabian Rupprecht, CEO of the Helvetia Group, explains: "These customer-oriented developments are fully in line with the helvetia 20.25 strategy: with our digital insurer Smile, we are seizing new opportunities in online distribution. Plus, it brings us one step further towards becoming a European insurance group."
"Scaling our digital business model to Spain is proof of our ongoing success story. With each successful expansion we are broadening our horizons and we are proud to now be gaining a foothold in the Spanish market", says Pierangelo Campopiano, CEO of Smile.
About Helvetia Group
Helvetia Group, with its headquarters in St. Gallen, has grown since 1858 to become a successful insurance group with over 12,000 employees and more than 7 million customers. It has been enabling its customers to seize opportunities and minimise risks for all that time – Helvetia is there for them when it matters. Helvetia is the best partner and is present everywhere that protection needs arise, with insurance, pension and investment solutions from a single source as well as simple products and processes. The insurance group knows the business, from mobile phone insurance and insurance cover for the Gotthard Base Tunnel to the long-term investment of customer assets. Helvetia develops and opens up new business models with enthusiasm and drives forward its own business in a powerful and future-oriented manner. It acts with foresight and responsibility in everything it does: for the benefit of its shareholders, customers and employees as well as its partners, society and the environment.
Helvetia is the leading all-lines insurer in Switzerland. In the Europe segment comprising Germany, Italy, Austria and Spain, the company has firmly rooted market positions for generating above-average growth. In the Specialty Markets segment, Helvetia offers tailored special insurance and reinsurance cover worldwide. With a business volume of CHF 10.7 billion, Helvetia generated IFRS net income after tax of CHF 480.2 million in the 2022 financial year under IFRS 17/9. The shares of Helvetia Holding AG are traded on SIX Swiss Exchange.
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.
Helvetia Holding AG is a Switzerland-based company of the Helvetia Group, an all-lines insurance service group. The Company divides its activities into the segments Switzerland, Germany, Italy, Spain and Other insurance units, including Austria, France and the global reinsurance business, as well as Corporate, comprising all Helvetia Group activities, financing companies and the Company itself. It operates in areas such as life business and non-life business. The life business offers life insurance, pension plans and annuities, among others. The non-life business includes property, motor vehicle, liability and transport policies, as well as health and accidental insurance coverage. The reinsurance business, among others, is included in Other activities business. It operates through its branch offices and subsidiaries, including Basler Versicherungen AG, Chiara Assicurazioni SpA and Schweizerische National-Versicherungs-Gesellschaft AG (Nationale Suisse).
HELVETIA HOLDING AG 
