Bâloise Holding AG said Feb. 3 that German unit Basler Versicherungen completed the transfer of a closed portfolio held by Baloise Life Ltd.'s German branch to Frankfurter Leben-Gruppe.

The portfolio comprises about 130,000 life insurance policies and investments amounting to approximately €1.72 billion. The portfolio transfer also entails the move of 87 employees from Basler Versicherungen Deutschland to Frankfurter Leben.