The Swiss M&A market reached record levels in 2025. Swissinfo looks at some of those deals and why they matter. M&A transactions volumes in Switzerland exceeded $166 billion (CHF132 billion) last year, mostly driven by outbound investment of pharma and the technology, media and telecom industries. That compares with $115 billion in 2024. In 2025 the insurance companies Baloise and Helevtia merged at a deal worth $10.8 billion creating the country’s second largest insurance company: Helvetia Baloise Holdings. It has 22,000 employees spread across eight countries. The goal is to expand where the companies already have a strong consumer base such as Italy, Germany and France and save costs of CHF350 million annually. The merger will come with job cuts estimated at 2600 people, with about half of those in Switzerland. Text:vm