End after 20 years – Why Raiffeisen, Helvetia run pass the third largest banking group in the country wants to resolve the dependency from the interest business and the insurance business with their own products, expand. To ensure Raiffeisen is looking for a new Partner. Holger Alich2 Kommentare2Raiffeisen sold in his business like this is on Limmatquai in zürich so far, the primary life insurance products of Helvetia. At the end of the year is closing. Photo: Samuel Schalch/Tamedia

The Raiffeisen group separates after 20 years of service from your insurance partner Helvetia on the end of the year. The background to the decision is that the new Raiffeisen-leadership from President, Guy Lachappelle and group chief Heinz Huber is the third-largest Bank group with a new strategy want to miss. The idea is to, among other things, to revive the bancassurance thoughts – that is the combined advice and sale of banking and insurance products – again.

In the first half of 2019 Raiffeisen had announced, therefore, its insurance partnership. Who will be the new Partner, is not yet known. The furniture would be an obvious candidate, because the insurer also has co-operative structures.

so Far, mediated Raiffeisen policies of Helvetia, and got a Commission. The new partnership, according to insiders, a comprehensive. “We want to develop with a new Partner, new joint products,” said a Bank Insider in the spring. Is intended, for example, a common Home or earthquake insurance, which is marketed under the brand names of both partners.

depending on the mortgage business, solve

the Other banks have similar ideas: The UBS has put together, for example, recently, together with the Zurich product package of banking and insurance products for young entrepreneur by the name of UBS’s Start – up Business. “We are not a First Mover,” admits a Raiffeisen Banker.

With more sales of insurance products, Raiffeisen leadership wants to solve the dependence on the mortgage business. The third-largest banking group in Switzerland is still scored over 70 per cent of their income with the interest-earning business. In the case of mortgages Raiffeisen, with a market share of around 17 percent, the number one.

Meanwhile, insurers and pension funds, a rise more in the Hypogeschäft and press the margins. Helvetia has also established the Online mortgage intermediaries, money Park. Such comparison and switching portals to help consumers to find the cheapest mortgage.

the end of the Era Vincenz

the end of the partnership with Helvetia is also a further break with the Era of the former Raiffeisen boss Pierin Vincenz. The judiciary is preparing an indictment against him, Vincenz is accused of in the case of equity purchases of Raiffeisen private profiting.

Vincenz sass as Raiffeisen-chief long of the Board of Directors of Helvetia, after his departure, as the operating Bank CEO he took over in 2015 the Post of the Chairman of the Board. Raiffeisen was also a long time shareholder in Helvetia, under Vincenz, a large network was built up in investments. This was sold after his departure to the big part of the Raiffeisen 2017 separated from his four percent stake in Helvetia.

For Helvetia the end of the partnership is bearable. According to information, the insurer took on the sale of life insurance through Raiffeisen a medium two-digit million amount, which corresponds to less than 10 percent of the new business. For customers nothing will change, they will continue to be supported by Helvetia.

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