Helvetia Group's Board of Directors has approved the planned merger of Caser with Helvetia Seguros and Helvetia Holding Suizo, as announced on Friday. Caser will continue as the absorbing entity in the transaction.

This decision marks a further step in the merger process. The planned merger, which will create a new entity and place the company in the top 10 on the Spanish market, still has to be approved by the respective general meetings and the supervisory authorities.

The Ball Is now in the Shareholder's Court

At the Capital Markets Day in December 2024, Helvetia announced that it would merge the units in Spain as part of its strategy. In particular, this will create synergies and further improve services for customers, according to Helvetia. The new company will have over 2.5 million customers and more than 7,000 employees. 

The shareholders will now have until the end of June 2025 to decide on the merger, which will then be examined by the relevant authorities.

Once this process has been completed, Helvetia Group will continue to be the main shareholder of Caser with more than 85 percent of the shares. Unicaja and Iberica will each hold around 7 percent of the new entity as strategic partners.

The merger should be completed by January 1, 2026

«This merger is an investment in stability, growth and sustainable value creation. Together, we are creating a company that will meet the challenges of the market with innovative power and economic strength for the benefit of everyone associated with us,» says Juan Estallo, CEO of the Spain Segment.