Corporate | 28 July 2014 08:47
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Hypoport AG / Key word(s): Quarter Results
Press release Volume of Private Clients loan brokerage in the first half of 2014 Private Clients: volume of loans brokered and insurance portfolio continue to grow Lübeck, 28 July 2014: The volume of loans brokered in Hypoport AG’s Private Clients division under its main brand, Dr. Klein, increased by 10.0 per cent year on year to EUR2.96 billion in the first six months of 2014. By contrast, the volume of new insurance business fell by a further 22.2 per cent compared with the corresponding period of 2013, reaching EUR8.6 million. The insurance portfolio managed by Dr. Klein delivered a better performance, growing by 8.4 per cent over the past six months to EUR109.7 million. “Business in insurance remains challenging. Across the sector, market participants had to deal with further regulatory interventions by legislators and continuing low rates of return on pension products in the second quarter,” said Stephan Gawarecki, chief executive officer of Dr. Klein & Co. AG. The number of transactions relating to loan brokerage remained encouraging in the first half of 2014. There was further double-digit growth in the brokerage volume, not least due to the 49.0 per cent increase in the value of building finance products compared with the first half of 2013 (from EUR72.1 million to EUR107.5 million). However, the mortgage finance product segment continued to account for by far the largest share of the aggregate business volume, climbing by 8.6 per cent to EUR2.73 billion (H1 2013: EUR2.51 billion). New insurance business continued to contract, falling by a further 22 per cent year on year to EUR8.6 million (H1 2013: EUR11.0 million). By contrast, the insurance portfolio managed by Dr. Klein grew by more than 8.4 per cent to EUR109.7 million in the first six months of this year. A 7.4 per cent decrease in the health insurance portfolio (from EUR30.6 million to EUR28.3 million) was easily offset by a 9.3 per cent rise in the far bigger life insurance & investments portfolio (from EUR55.8 million to EUR61.0 million) and by a 38.1 per cent increase in the general insurance portfolio (from EUR14.7 million to EUR20.3 million). Note: Neither the revenue nor the earnings generated by Hypoport can be directly extrapolated from the transaction figures given above.
Information on Dr. Klein
Contact: Christian Würdemann Head of Communications, Human Resources & Legal Hypoport AG Klosterstraße 71 D-10179 Berlin Phone: +49 (0) 30 / 4 20 86 – 1920 Fax: +49 (0) 30 / 4 20 86 – 281920 E-Mail: ir@hypoport.de Internet: www.hypoport.de Twitter: http://twitter.com/Hypoport End of Corporate News 28.07.2014 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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