28.06.2016
JDC Group AG DE000A0B9N37
DGAP-News: JDC acquires parts of the retail client business of leading global insurance and reinsurance broker Aon
DGAP-News: JDC Group AG / Key word(s): Mergers & Acquisitions
JDC acquires parts of the retail client business of leading global insurance
and reinsurance broker Aon
28.06.2016 / 07:53
The issuer is solely responsible for the content of this announcement.
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- Acquisition of about 20,000 existing contracts of Aon Germany
- Positive effect on JDC's earnings of more than EUR 1 million p.a.
- Strategic cooperation with Aon in parts of Aon's retail client business
JDC Group, the leading AdvisorTech company in Europe, acquires a retail
client portfolio of about 20,000 contracts and an annual net insurance
premium of about EUR 8.5 million from the leading global insurance and
reinsurance broker Aon Germany via JDC's subsidiary Jung, DMS & Cie. AG.
This comprises mainly client contracts in divisions with long holding
periods and low termination rates, mainly from divisions like legal
expenses insurance, personal liabilities insurance as well as householders'
and homeowners' comprehensive insurance.
JDC will generate yearly recurring fees of about EUR 1.5 million from these
contracts. The expected EBITDA contribution after handling and customer
service related costs will amount to at least EUR 1.2 million per year. The
contract is effective immediately. The positive earnings contribution will
be effective pro rata in 2016, and then fully effective in 2017.
The transaction was accompanied and advised by Innovalue Management
Advisors, Hamburg. This and further planned acquisitions are financed via
the capital increase successfully conducted a few days earlier in the
amount of EUR 6.5 million.
'Aon intends to focus its retail client business on working with
corporations and serving their employees and workforce in the future.
During the past months they have been seeking the ideal partner for the
remaining part of their retail client business in the course of a
professional due diligence process', Dr. Sebastian Grabmaier, CEO of JDC
Group AG, explains. 'We are glad Aon chose us as acquirer and caretaker of
their remaining client portfolio, as well as a partner for further
potential portfolio disposals and intends to strategically cooperate with
us in this area in the future.'
JDC Group is the ideal acquirer of such retail portfolios, as not only it
has the necessary transaction experience, but it can also insure, in the
interests of the clients, proper customer service after the transfer.
'The now acquired portfolio further improves our financial key figures
substantially', Ralph Konrad, CFO of JDC, emphasizes. 'It comprises
contracts with historically very long holding periods, which promise an
investment yield after transaction costs of more than 25 percent per year."
Further information about JDC Group AG is available at www.jdcgroup.de.
JDC Group AG
Ingo Middelmenne
Investor Relations
Phone: +49 611 33 53 514
Fax: +49 611 33 53 2514
Email: [email protected]
About JDC Group
JDC Group AG (ISIN: DE000A0B9N37) stands for new advisory technologies
flanked by smart financial advice. In our "Advisortech" segment, we are
developing state-of-the-art advisory and administration technologies for
customers and advisors alike. Many sales operations and partners view
technological change as presenting a problem and see young Fintech players
as new competitors. We, by contrast, see the "technology" factor as
offering a great opportunity. In future, solutions from the "Advisortech"
segment will help advisors support their customers even more closely and
thus also generate higher sales. In our "Advisory" segment, our Jung, DMS &
Cie. and FiNUM subsidiaries broker financial products to private end
customers via independent advisors, brokers and financial sales operations.
With more than 16,000 affiliated sales partners, approximately 1,000,000
end customers, a managed portfolio of more than Euro 4 billion and new
business of more than Euro 1.3 billion a year, we are one of the market
leaders in German-speaking countries.
About Aon
Aon is a globally leading service provider for risk management as well as
globally leading insurance and reinsurance broker and advisor for human
resources. Worldwide there are more than 72,000 employees working for Aon
in more than 120 countries. In Germany there are about 1,700 employees
working at eight locations for the company. The German headquarters are
based in Hamburg.
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28.06.2016 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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474875 28.06.2016
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