Baloise Group has reported net income of CHF213.5m (approx $208.6m) for the first half of 2010, a decrease of 9% compared to CHF234.6m (approx $229.2m) for the same period in 2009.

The company’s EBIT was CHF316.1m for the H1 2010 which is an increase of 4.6% compared to CHF302.2m for the H1 of 2009.

The investment income for H1 2010 was CHF942.8m compared to CHF984.3m for the same period last year.

The company said that the business volume grew by 24.5% and the consolidated solvency wass amounted to 234%.

Baloise CEO Martin Strobel said that the company has delivered a convincing performance, despite the various challenges.

“It is also encouraging that the costs in the whole Group are sinking noticeably. We are on track to reach our goal of becoming one of the most profitable and fastest growing insurers in Europe by 2012,” Strobel said.