Corporate | 27 October 2014 08:31
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Hypoport AG / Key word(s): 9-month figures
Press release Volume of new business with private clients brokered in the first nine months of 2014 Private Clients division: value of loans brokered and insurance portfolio continue to grow Lübeck, 27 October 2014: The volume of new loans brokered in Hypoport AG’s Private Clients division under its main brand, Dr. Klein, increased by 15.7 per cent year on year to EUR4.69 billion in the first nine months of 2014. The insurance portfolio managed by Dr. Klein also performed well, growing by 14.7 per cent in the first three quarters to EUR116.0 million. By contrast, the volume of new insurance business brokered in the first nine months of this year shrank by a further 20.3 per cent compared with the corresponding period of 2013, falling to EUR12.6 million. “The persistently low level of interest rates continues to act as a drag on the insurance industry,” explained Stephan Gawarecki, chief executive officer of Dr. Klein & Co. AG, adding: “It is clear that we made the right decision to adjust our business model and focus more on building sustainable insurance portfolios, and we are steadily becoming more successful in this respect.” The number of loan brokerage transactions continued to rise significantly in the first three quarters of 2014. “The Bundesbank’s statistics reveal that the total volume of mortgage lending across the German market as a whole is stagnating. This makes our growth in this segment all the more impressive,” stressed Gawarecki. Mortgage finance – the largest product segment – grew by 15.2 per cent compared with the same period of last year from EUR3.77 billion to EUR4.34 billion. The value of personal loans brokered advanced by 7.0 per cent (from EUR166.7 million to EUR178.4 million) and the volume of building finance business jumped by 45.7 per cent (from EUR111.6 million to EUR162.6 million) compared with the first nine months of 2013. New insurance business continued to contract, declining by a further 20.3 per cent year on year in the first three quarters of 2014 to EUR12.6 million (Q1-Q3 2013: EUR15.8 million). By contrast, the insurance portfolio managed by Dr. Klein grew by more than 14.7 per cent from EUR101.1 million to EUR116.0 million in the first nine months of this year. Whereas the size of the health insurance portfolio remained virtually unchanged year on year, edging up by 0.2 per cent from EUR30.6 million to EUR30.7 million, the life insurance & investments portfolio grew by 14.0 per cent from EUR55.8 million to EUR63.7 million, while the general insurance portfolio expanded by an impressive 47.8 per cent from EUR14.7 million to EUR21,7 million. Note: Neither the revenue nor the earnings generated by Dr. Klein can be directly extrapolated from the transaction figures given above.
Information on Dr. Klein
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 27.10.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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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| 293309 27.10.2014 |