Helvetia Group announced that its board of directors has approved a merger involving Caser, Helvetia Seguros, and Helvetia Holding Suizo. Caser will act as the absorbing company in the process.
The plan aims to strengthen Helvetia’s presence in Spain, with the combined entity expected to rank among the top 10 insurers in the Spanish market.
The merger is pending approval from the companies’ general meetings and regulatory bodies. Shareholders will vote by the end of June 2025, followed by a review by supervisory authorities. Helvetia targets January 1, 2026, to finalize the legal merger.
Helvetia Group will remain the majority shareholder in the new entity with over 85% ownership. Strategic partners Unicaja and Ibercaja will each retain stakes of about 7%.
The new organization will serve more than 2.5 million customers and employ over 7,000 people.
Helvetia said the merger would simplify its structure in Spain, increase efficiency, and improve service delivery.
The company first outlined the plan earlier this year, citing operational benefits and expanded market reach.
Separately, Helvetia and Baloise Holding Ltd. recently announced a proposed merger of equals. The deal would create Switzerland’s second-largest insurance group.
The companies said their similar size, market alignment, and synergy potential make the merger a strong move for long-term growth.
That transaction remains subject to shareholder, regulatory, and antitrust approvals, with closing expected in the fourth quarter of 2025.
