Corporate | 23 October 2013 09:58
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Hypoport AG / Key word(s): Miscellaneous/Miscellaneous
Press release Volume of Private Clients transactions in the first nine months of 2013 Dr. Klein: double-digit growth in transaction volumes The Private Clients division of financial service provider Dr. Klein & Co. AG achieved double-digit growth rates in its volumes of loan and insurance transactions in the first nine months of this year compared with the corresponding period of 2012. The Company’s insurance portfolio – a key indicator of future success in the increasingly tough market environment – posted the strongest growth, increasing by 37 per cent. Dr. Klein & Co. AG once again made a valuable contribution to the transaction growth achieved by the Private Clients business unit in the Hypoport Group. The volume of loan transactions generated from January to September 2013 rose by 19 per cent to approximately EUR4.05 billion compared with the EUR3.4 billion reported for the first nine months of 2012. This robust growth resulted from the consistently high demand for mortgage finance coupled with highly attractive terms and conditions available on building finance products. The value of insurance transactions generated in the first nine months of 2013 rose by 16 per cent to EUR15.8 million (Q1-Q3 2012: EUR13.6 million). The decrease in the volume of health insurance transactions was more than offset by the growth in life insurance and the substantial increase in general insurance. Stephan Gawarecki interprets the transaction-related figures Stephan Gawarecki, the chief executive officer (CEO) of Dr. Klein & Co. AG, commented on the prevailing trends in the lending market: ‘The rise in property finance interest rates from May onwards fuelled strong mortgage demand that continued in the third quarter of 2013. Although we expect interest rates to remain attractive in the short term, we reckon that they will rise over the medium to long term.’ The insurance market has again been shaken in recent weeks by regulatory initiatives on the part of insurers. ‘The trend towards narrowing margins on insurance advisory and brokerage services is irreversible. We expect the number of independent advisors to fall, which will have an adverse impact on consumers. Small brokers that have a large client base will manage to survive despite falling margins and burgeoning regulatory requirements. Independent distribution organisations with multi-layered hierarchies will become less competitive owing to their high overheads. Because margins are narrowing, efficient ways of attracting and serving clients are becoming a key competitive advantage. Dr. Klein’s business model combines comprehensive one-stop advisory services with automated processes and a strategy of winning prospective customers over the internet. By keeping our processes lean we have thus managed to achieve increasingly strong growth in our client base.’
Explanatory note concerning information on Dr. Klein’s financial results
Information on Dr. Klein
End of Corporate News 23.10.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Hypoport AG | |
| Klosterstraße 71 | ||
| 10179 Berlin | ||
| Germany | ||
| Phone: | +49/30 42086-0 | |
| Fax: | +49/30 42086-1999 | |
| E-mail: | ir@hypoport.de | |
| Internet: | www.hypoport.de | |
| ISIN: | DE0005493365 | |
| WKN: | 549336 | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart | |
| End of News | DGAP News-Service |
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| 235743 23.10.2013 |