Comparis announces collective dismissal for economic reasons – rts.ch

A “socially acceptable” solution is planned for all the employees concerned, writes the Comparis group in a press release.

After a constant decline in its profitability, it has been in the red since 2022. A situation which is due to the significant increase in costs and the stagnation of turnover, it is explained. And the risk of further losses in 2023 is there, due to the difficulties facing various product areas.

A Finma procedure that might be expensive

The main threat comes from the Swiss Financial Market Supervisory Authority (Finma). It has decided to confiscate, within the framework of an ongoing procedure, the profits from the brokerage of comparis.ch SA addresses made in the field of insurance since 2015. The reason for this is a lack of liability to Finma.

“As a precautionary measure, this risk forces the company to set up provisions of several million francs as quickly as possible, although legal experts believe that the probability of such confiscation of profits is low,” says Richard Eisler, founder and Chairman of the Board of Comparis, quoted in the press release.

The threat of confiscation of profits is linked to a costly standoff that has lasted for three and a half years between Finma and Comparis, according to the latter. The central question is whether the comparator must register as an insurance intermediary.

Necessary reorganization of the group

Irrespective of the outcome of the litigation, the Comparis group will have to reorganize. “We deeply regret having to take this step. The management of the company has failed to achieve its ambitious growth objectives.

In order to sustainably secure our financial stability and ability to act, we have no choice but to drastically reduce group-wide costs,” says Ingo Kopido, Member of the Board of Directors of Decisis Holding. AG and CEO since January 1.

One of the most visited sites in Switzerland

With more than 80 million visits per year, comparis.ch is one of the most visited websites in Switzerland, he says.

In recent years, Comparis and its partner services, which all belong to the Decisis holding company, have experienced strong growth: alongside the traditional fields of insurance and health insurance, real estate as well as the banking sector have become central pillars of the group of companies, further specifies the company founded in 1996.

ats/oang