The Helsana Group reports total losses of CHF 524 million for 2022. In the underwriting result, medication and considerable catch-up effects after the pandemic had an impact on benefit costs under basic insurance. The negative performance of the financial markets is reflected in capital investments. Nevertheless, the equity base remains solid and solvency requirements are exceeded. In addition, it was possible to reduce the operating cost ratio substantially, curbing future premium growth.
2022 was an exceptionally challenging year, one shaped by war, an energy crisis, high inflation and losses on the financial markets. The Helsana Group has also felt the effects of all this. Capital investments performed negatively in the year under review, at -10.8%. In spite of this, the equity base remains outstandingly solid: equity of CHF 2.7 billion has been recorded for the reporting year and legal solvency requirements are still exceeded by a wide margin. Thanks to this strong financial footing, Helsana continues to hold a sustainably healthy position, even in exceptional years.
The Helsana Group recorded premium income totalling CHF 7.6 billion in 2022, with a combined ratio of 100.7%. A disciplined approach to costs enabled operating expenses to be reduced once again, as in the previous year, reaching a figure of 8.1% for the reporting year. This corresponds to a substantial reduction of 1.2 percentage points, which will curb future premium growth and thereby benefit Helsana customers.
The supplementary insurance business for individual customers remained pleasingly profitable in the reporting year, and premium volume increased slightly. In the corporate division, profitability was restored after many years of efforts in this direction, thereby enabling the break-even point to be reached.
The combined ratio in the KVG area increased by 2.9 percentage points to 106.6%. It has been shown that premiums in the KVG business (basic insurance) that do not cover costs lead to unnecessary premium increases. These costs must be covered – there is no way around that. Helsana therefore demands that this principle be observed in every premium approval.
Back in 2021, Swiss health insurers were urged to reduce reserves for 2022 and to calculate premiums for basic insurance moderately. However, at around 3.5%, inflation in this same year was higher than in recent years. This was due to strong catch-up effects in the wake of the coronavirus pandemic and ongoing increases in the cost of medications. In turn, these factors led to higher benefit costs under basic insurance for Helsana compared to previous years. These effects were able to be absorbed thanks to the fluctuation reserves provided for this, generating an underwriting result of CHF -369 million in basic insurance.
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