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BHW Plans to Buy Life Insurer, CEO Wagner Tells Handeslblatt
By Corinna Budras
June 24 (Bloomberg) -- BHW Holding AG, a German mortgage
lender, plans to buy a ``mid-sized`` life insurer as it seeks to
expand its pension business, Handelsblatt said, citing an
interview with Chief Executive Reinhard Wagner.
BHW is seeking a company that concentrates solely on life
insurance, the newspaper said, citing Wagner. Hameln, Germany-
based BHW had sought to purchase Swiss Life Holding two years ago
but failed, the paper said.
The lender plans to boost its pensions business to 30
percent of sales ``in the medium term`` as demand for mortgage
saving plans slows after last year`s boom, the paper said. To
date, BHW`s mortgage business is seven times larger than its life
insurance and fund business, which amount to 1.15 billion euros
($1.4 billion) in insurance capital and inflows, the paper said.
The mortgage savings business in the industry rose as much
as 30 percent after the government announced plans to cut state
aid for new homes from January, the paper said.

(Handelsblatt 6-24 19)
aus der Diskussion: BHW - Frühlingserwachen im Herbst ???
Autor (Datum des Eintrages): memyselfandi007  (24.06.04 11:17:46)
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