(RTTNews) - Swiss insurance group Helvetia Baloise Holding AG (HELNF, HBAN.SW, HLVTY) reported Thursday lower profit in its first half of fiscal 2026, hurt by certain merger-related charges. However, underlying earnings, business volume and insurance revenue climbed from last year, with the merger of Helvetia Holding Ltd. and Baloise Holding Ltd.

Helvetia Baloise noted that, following the successful completion of key first-phase integration milestones, the firm is entering the next phase of the integration.

To support this, the firm has created a Chief Technology & Transformation Officer or CTTO role. Sandra Hürlimann, currently CTO Switzerland, will assume the newly created CTTO role and join the Group Executive Committee, effective October 1.

Michael Müller, Deputy Group CEO & Chief Integration Officer, and Alexander Bockelmann, Group CTO, will conclude their Group Executive Committee mandates on September 30.

Further, the firm said the integration is on track, and the focus is now on realising synergies and completing the operational integration process, including the planned unification under the Helvetia brand in the coming months.

In the first half, IFRS net income amounted to 84.6 million Swiss francs, compared to 320.1 million francs last year. Earnings per share were 0.7 franc, compared to 5.8 francs last year.

The latest results reflect the combined Helvetia Baloise Group, while prior year's results reflect Helvetia only.

The first-half 2026 result was materially impacted by the previously announced acceleration of the amortisation of merger-related intangible assets of 671.7 million francs.

Helvetia Baloise generated underlying earnings of 631.6 million francs in the first half, higher than 271.8 million francs last year, driven by operational performance, including continued progress in technical excellence. Underlying earnings per share were 6.2 francs, up from 4.8 francs a year ago.

Business volume totaled 11.73 billion francs, up from 6.96 billion francs last year.

Insurance revenue climbed to 8.17 billion francs from prior year's 4.62 billion francs, with growth in both life and non-life businesses.

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