Helvetia Holding secured regulatory approval in Spain to merge Helvetia Seguros and Helvetia Holding Suizo with Caser, which stays as the surviving entity.
The Spanish Directorate-General for Insurance and Pension Funds has authorised the merger of Helvetia Seguros and Caser. This authorisation marks a milestone in the integration process announced by the Helvetia Group in December 2024, and will enable the consolidation of a stronger, more efficient, and customer-focused company.
The organisation resulting from the integration of Caser and Helvetia Seguros is born with a renewed vision: to offer more comprehensive, innovative and sustainable insurance solutions.
This merger represents an investment in stability, growth and long-term value creation, combining the best of both corporate cultures while maintaining the commitment to customers, employees and strategic partners, such as Unicaja and Ibercaja.
Both banks will remain minority shareholders of the merged company and have expressed their full support for the merger and the strategic direction of the new organisation.
We are delighted to have received authorisation for the integration. This marks an important strategic milestone for the Group.The clarity of the project and the excellent collaboration between the Helvetia and Caser teams.
Fabian Rupprecht, Group CEO of Helvetia
“The efficiency and commitment demonstrated throughout the process reflect how we operate as a group: united, focused and driven by a long-term, sustainable value creation. This approach will continue to guide us as we strengthen our position in key markets,” Fabian Rupprecht explains.
The new entity will have more than 2.5 mn customers in Spain and a team of over 7,000 employees, positioning itself among the top ten insurance groups in the Spanish market.
That scale puts the business into the country’s top tier, a position Helvetia has chased for years. Juan Estallo, CEO of Helvetia Spain, says the merger sharpens the group’s focus on the Spanish market and gives it room to move faster, whether in product rollout or distribution tweaks that often bog down cross-entity structures.
Juan Estallo, CEO of the Helvetia segment in Spain, stated: “This is a landmark moment for us in Spain. Over the past year, we have been working intensively to bring this integration to life, and I am proud of the progress achieved by our teams.”
We are now in a stronger position to deliver even more personalized, high-quality service to our customers, in close cooperation with our strategic partners and brokers. This integration allows us to operate with greater agility and focus on the Spanish market.
Juan Estallo, CEO of the Helvetia segment in Spain
The company will further promote cross-selling of insurance and services and will launch new solutions tailored to specific segments such as customers over 50 and SMEs, fully leveraging the combined expertise and capabilities of both organisations to create tangible added value for clients and partners alike.
Once the legal paperwork wraps up, the company plans to push deeper into operational and tech integration.
Both brands continue until 2027, and the distribution networks – especially agents and brokers – stay intact.
According to Beinsure analysts, the choice to run dual brands for a few years feels pragmatic, mostly to avoid jolting long-standing customer relationships and bank-assurance channels.
Unicaja and Ibercaja keep their minority stakes, roughly 7% each. Helvetia holds more than 85% of the merged entity and stays firmly in control.
The group has said since early 2025 that merging its Spanish units would unlock synergies and stiffen its customer proposition, and, honestly, the strategy tracks with a broader push among European carriers to simplify sprawling structures before competition squeezes margins even tighter.
