Baloise Holding Management

Management criteria checks 4/4

Baloise Holding's CEO is Michael Muller, appointed in Jul 2023, has a tenure of 1.33 years. total yearly compensation is CHF1.69M, comprised of 46% salary and 54% bonuses, including company stock and options. directly owns 0.084% of the company’s shares, worth CHF6.33M. The average tenure of the management team and the board of directors is 5.3 years and 5.6 years respectively.

Key information

Michael Muller

Chief executive officer

CHF 1.7m

Total compensation

CEO salary percentage	46.0%
CEO tenure	1.3yrs
CEO ownership	0.08%
Management average tenure	5.3yrs
Board average tenure	5.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Michael Muller's remuneration changed compared to Baloise Holding's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	CHF 254m
Mar 31 2024	n/a	n/a	CHF 247m
Dec 31 2023	CHF 2m	CHF 775k	CHF 240m
Sep 30 2023	n/a	n/a	CHF 239m
Jun 30 2023	n/a	n/a	CHF 239m
Mar 31 2023	n/a	n/a	CHF 243m
Dec 31 2022	CHF 2m	CHF 700k	CHF 248m
Sep 30 2022	n/a	n/a	CHF 374m
Jun 30 2022	n/a	n/a	CHF 501m
Mar 31 2022	n/a	n/a	CHF 545m
Dec 31 2021	CHF 2m	CHF 700k	CHF 588m
Sep 30 2021	n/a	n/a	CHF 574m
Jun 30 2021	n/a	n/a	CHF 559m
Mar 31 2021	n/a	n/a	CHF 497m
Dec 31 2020	CHF 2m	CHF 700k	CHF 434m
Sep 30 2020	n/a	n/a	CHF 456m
Jun 30 2020	n/a	n/a	CHF 477m
Mar 31 2020	n/a	n/a	CHF 586m
Dec 31 2019	CHF 2m	CHF 700k	CHF 694m
Sep 30 2019	n/a	n/a	CHF 671m
Jun 30 2019	n/a	n/a	CHF 649m
Mar 31 2019	n/a	n/a	CHF 586m
Dec 31 2018	CHF 2m	CHF 700k	CHF 523m
Sep 30 2018	n/a	n/a	CHF 521m
Jun 30 2018	n/a	n/a	CHF 519m
Mar 31 2018	n/a	n/a	CHF 533m
Dec 31 2017	CHF 2m	CHF 700k	CHF 548m

Compensation vs Market: Michael's total compensation ($USD1.90M) is below average for companies of similar size in the UK market ($USD3.22M).

Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.

CEO

Michael Muller (53 yo)

1.3yrs

Tenure

CHF 1,686,600

Compensation

Mr. Michael Muller, lic. oec. publ., serves as Group Chief Executive Officer at Bâloise Holding AG since July 01, 2023 and serves as its CEO of Corporate Division Switzerland and served as its Chief Execut...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Michael Muller	Group CEO	1.3yrs	CHF 1.69m	0.084% CHF 6.3m
Carsten Stolz	Head of Corporate Finance Division & CFO	7.5yrs	CHF 1.27m	0.012% CHF 910.8k
Matthias Henny	Head of Corporate Division Asset Management & Chief Investment Officer	7.5yrs	CHF 1.27m	0.058% CHF 4.4m
Alexander Bockelmann	Chief IT Officer & CTO	5.8yrs	CHF 1.38m	0.045% CHF 3.4m
Clemens Markstein	Chief Executive Officer of Corporate Division Switzerland	1.3yrs	CHF 838.70k	0.015% CHF 1.1m
Markus Holtz	Head of Investor Relations	5.8yrs	no data	no data
Mathias Zingg	Head of Sales & Marketing	4.8yrs	no data	no data
Claude Meyer	Head of Non Life - Luxembourg	no data	no data	no data
Gaby Lurie	Head of Sustainability & Regulatory Affairs	no data	no data	no data
Jean-Pierre Valenghi	Head of Real Estate	2.8yrs	no data	no data
Christian Schacher	Head of Group Internal Audit	no data	no data	no data
Christophe Hamal	Chief Executive Officer of Baloise in Belgium	no data	no data	no data

5.3yrs

Average Tenure

51.5yo

Average Age

Experienced Management: 0QQ3's management team is seasoned and experienced (5.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Christoph Mader	Independent Non-Executive Vice Chairman	5.6yrs	CHF 309.50k	0.0076% CHF 570.8k
Markus Neuhaus	Independent Non-Executive Director	5.6yrs	CHF 258.10k	0.0058% CHF 438.8k
Thomas von Planta	Independent Chairman of the Board	7.6yrs	CHF 1.36m	0.031% CHF 2.3m
Karin Diedenhofen	Independent Non-Executive Director	3.6yrs	CHF 186.20k	0.0041% CHF 309.9k
Guido Furer	Director	less than a year	no data	no data
Christoph Gloor	Independent Non-Executive Director	10.6yrs	CHF 251.30k	0.027% CHF 2.0m
Hans-Jorg Schmidt-Trenz	Independent Non-Executive Director	6.6yrs	CHF 231.20k	0.0062% CHF 469.0k
Marie-Noelle Venturi - Zen-Ruffinen	Independent Non-Executive Director	8.6yrs	CHF 237.50k	0.0082% CHF 620.6k
Maya Bundt	Independent Non-Executive Director	2.6yrs	CHF 186.20k	0.0034% CHF 257.1k

5.6yrs

Average Tenure

63yo

Average Age

Experienced Board: 0QQ3's board of directors are considered experienced (5.6 years average tenure).

Baloise Holding Management

Management criteria checks 4/4

Key information

Recent management updates

Insufficient new directors

Bâloise Holding AG Announces Resignation of Claudia Dill from the Board of Directors on 31 October 2023

Bâloise Holding AG Announces Executive Changes

Insufficient new directors

Bâloise Holding AG Elects Claudia Dill and Maya Bundt as Members of Board of Directors

Bâloise Holding AG, Annual General Meeting, Apr 28, 2023

Recent updates

Now 20% undervalued

First half 2024 earnings released: EPS: CHF4.84 (vs CHF4.54 in 1H 2023)

Now 20% overvalued after recent price rise

Cevian Capital Forces Changes at Baloise Holding

Now 20% overvalued after recent price rise

Insufficient new directors

Upcoming dividend of CHF7.70 per share

Upcoming dividend of CHF7.70 per share

Dividend increased to CHF7.70

New minor risk - Profit margin trend

Bâloise Holding AG to Report Q3, 2024 Results on Nov 20, 2024

New major risk - Revenue and earnings growth

New major risk - Revenue and earnings growth

Howden Schweiz AG acquired unknown majority stake in Haakon AG from Bâloise Holding AG (SWX:BALN).

Now 20% undervalued after recent price drop

Bâloise Holding AG Announces Resignation of Claudia Dill from the Board of Directors on 31 October 2023

New minor risk - Earnings quality

Upcoming dividend of CHF7.40 per share at 5.0% yield

Investor sentiment deteriorates as stock falls 15%

Bâloise Holding AG Announces Executive Changes

Bâloise Holding AG to Report Q3, 2022 Results on Nov 17, 2022

Bâloise Holding AG to Report Q3, 2022 Results on Nov 17, 2022

First half 2022 earnings released: EPS: CHF6.36 (vs CHF6.71 in 1H 2021)

Bâloise Holding AG Provides Earnings Guidance

Vakuutusosakeyhtiö Bothnia International agreed to acquire hospital liability portfolio of Basler Sachversicherungs-AG from Bâloise Holding AG (SWX:BALN) on August 15, 2022.

Insufficient new directors

Bâloise Holding AG Elects Claudia Dill and Maya Bundt as Members of Board of Directors

Upcoming dividend of CHF7.00 per share

Bâloise Holding AG, Annual General Meeting, Apr 28, 2023

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Bâloise Holding AG (SWX:BALN) acquired Usu Solutions Gmbh from USU Software AG (XTRA:OSP2).

First half 2021 earnings released: EPS CHF6.71 (vs CHF3.94 in 1H 2020)

Baloise Launches New Insurance Solution for Vehicle Fleets

Chairman of the Board Andreas Burckhardt has left the company

Bâloise Holding Ag Approves Dividend Distribution, Payable on 6 May 2021

Upcoming dividend of CHF6.40 per share

Full year 2020 earnings released: EPS CHF9.64 (vs CHF15.02 in FY 2019)

Full year 2020 earnings released: EPS CHF9.65 (vs CHF15.02 in FY 2019)

New 90-day high: CHF161

Bâloise Holding AG to Report Fiscal Year 2020 Results on Mar 09, 2021

Pensionskasse Basel-Stadt and Baloise Form Partnership

New 90-day high: CHF149

Baloise Expands its Mobility Ecosystem by Founding ‘aboDeinauto’

New 90-day low: CHF132

Baloise Invests in Start-Up Houzy to Expand Its Home’ Ecosystem

New 90-day low: CHF137

First half earnings released

Bâloise Holding AG to Report Q3, 2020 Results on Nov 12, 2020

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age