07.06.2016
Hypoport AG DE0005493365
DGAP-News: Hypoport strengthens its competitive position in the insurance market with purchase of software company NKK Programm Service AG
DGAP-News: Hypoport AG / Key word(s): Takeover
Hypoport strengthens its competitive position in the insurance market with
purchase of software company NKK Programm Service AG
07.06.2016 / 16:27
The issuer is solely responsible for the content of this announcement.
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Press release
Corporate acquisition
Hypoport strengthens its competitive position in the insurance market with
purchase of software company NKK Programm Service AG
Berlin, 7 June 2016: Today, group subsidiary Hypoport InsurTech GmbH
acquired NKK Programm Service AG, a leading software company in the
insurance sector. As a result of the acquisition, both partners will
maximise the potential for synergies from technology transfer and joint
market access.
Since 1988, NKK has offered its customers software solutions for the
administration of insurance policies. OASIS, its core product, provides
insurance brokers and financial service providers with a powerful solution
for administration, invoicing and financial planning and reporting. "NKK
has high-quality products and a staff of 50 with in-depth specialist
knowledge. Having the Hypoport Group as a strategic partner with a strong
capital base will enable us to significantly speed up our current growth
rate. The new OASIS 4.0 generation will further strengthen our position as
a skilled premium partner for insurance brokers, captive brokers, all forms
of independent distributors, underwriting agents and specialist insurers,"
enthused Albert Krieger, executive director of NKK. He not only sees the
greater operational and financial firepower driving growth, but also
believes that offering combined solutions could boost the business going
forward.
NKK AG's solutions for the administration of insurance policies have been
used for years by various Hypoport AG subsidiaries as a technological means
of mitigating the pressure on insurance-brokerage margins. As well as
continuing the product development of proven NKK solutions, the integration
of NKK technology into software solutions developed at Hypoport will pave
the way for completely new business models in the insurance market. "In
2015, the volume of annual insurance premiums in Germany was around EUR194
billion, but there has been little digitisation in the insurance market to
date, while the pressure on margins has been rising steadily," reported
Stephan Gawarecki, the Hypoport Management Board member responsible for the
Private Clients business unit. He added: "Now that we have seen the extent
to which automation is enhancing the efficiency of our administrative
processes for the insurance-policy portfolio, we also want to offer this
solution to other partners in the market, in conjunction with NKK, our new
subsidiary. Our ambition is to be the leading InsurTech company in the
automated processing of insurance policies."
The Hypoport Group consists of a family of companies whose business models
combine financial services with technology. All of these business models
automate, standardise and professionalise existing distribution processes
for financial products. "By acquiring NKK, the Hypoport Group will
strengthen its competitive position in the insurance market for many years
to come. The acquisition represents a logical continuation of our strategy
of growth based on the digitisation of the financial service markets, in
this case in the insurance product segment," added Ronald Slabke, Chief
Executive Officer of Hypoport AG.
About Hypoport AG
The Hypoport Group is a technology-based financial service provider. The
business model is based on its three mutually supporting business units:
Private Clients, Financial Service Providers, and Institutional Clients.
All three units are engaged in the distribution of financial services,
facilitated or supported by finance-technology ('fintech').
As a wholly-owned subsidiary of Hypoport, Europace AG develops and operates
the web-based EUROPACE financial marketplace, which is Germany's largest
platform for mortgages, building finance products and personal loans. A
fully integrated system links more than 350 partners - banks, insurers and
financial product distributors. Several thousand users execute some 35.000
transactions worth a total of up to EUR4 billion on EUROPACE every month.
The Hypoport subsidiary Dr. Klein & Co. AG is an independent online
distributor of financial products. This firm's specialists provide private
clients with a full range of advisory services around mortgage finance,
insurance and retirement planning. Dr. Klein & Co. AG has been a major
financial service partner to housing companies and commercial property
investors since 1954. Hypoport AG is headquartered in Berlin, employs more
than 500 people and is listed in the Prime Standard of the Frankfurt Stock
Exchange. At the end of 2015 Hypoport was admitted to the SDAX.
Contact
Michaela Reimann
Head of Corporate Communications
Tel: +49 (0)30 42086 1936
Fax: +49 (0)30 42086 1999
Twitter: www.twitter.com/hypoport
Email: [email protected]
www.hypoport.com
Key data on Hypoport's shares
Hypoport AG
ISIN DE 0005493365
WKN 549336
Stock exchange symbol HYQ
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07.06.2016 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.
Archive at www.dgap.de
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Language: English
Company: Hypoport AG
Klosterstraße 71
10179 Berlin
Germany
Phone: +49/30 42086-0
Fax: +49/30 42086-1999
E-mail: [email protected]
Internet: www.hypoport.de
ISIN: DE0005493365
WKN: 549336
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Stuttgart
End of News DGAP News Service
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469857 07.06.2016
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