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Hypoport AG: Private Clients division - value of loans brokered and insurance portfolio continue to grow
DGAP-News: Hypoport AG / Key word(s): 9-month figures
Hypoport AG: Private Clients division - value of loans brokered and
insurance portfolio continue to grow
27.10.2014 / 08:31
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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
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
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