Swiss insurer Helvetia completed the acquisition of a 70% stake in Spanish insurer Caser from a group of sellers including Spanish banks and French insurer Covea for $865m. "The acquisition of Caser perfectly fits Helvetia’s strategy. Our business in Spain has performed very well in recent years and will now be strengthened further by this transaction, which will also substantially increase the importance of our European activities. Both companies complement each other outstandingly, including from a cultural perspective," Philipp Gmuer, Helvetia CEO.