EANS-News: Hypoport AG Credit Life International and EUROPACE launch alliance
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Joint Ventures/Cooperation/Collaboration
Berlin/Venlo (euro adhoc) - 30 August 2011: Payment protection insurer Credit
Life International N.V. and EUROPACE, the B2B financial marketplace belonging to
Hypoport AG, have established a long-term partnership with effect from 1 August
2011. Their shared objective is to offer Credit Life International payment
protection via EUROPACE. Both parties intend the alliance to strengthen and
expand their market presence over the long term.
As the first step towards the alliance, payment protection insurance policies
are now being integrated into EUROPACE's mortgage finance products, after which
they will also be available for personal loan products. They will also be linked
to EUROPACE 2, the new generation EUROPACE platform. Credit Life International's
insurance products protect customers against default due to death, inability to
work or unemployment.
"Our partnership with Credit Life International is for the long term and it will
make it very easy for EUROPACE's affiliated distributors to provide all
customers with protection for their financial plans - something that is
increasingly in demand in the lending market, particularly during turbulent
times", commented Thilo Wiegand, a member of Hypoport's Management Board.
"Customers whose property purchase, home modernisation, fitted kitchen or new
car is being financed via the EUROPACE platform will be able to find suitable
cover for their finance at reasonable premiums using Credit Life International
payment protection policies."
Andreas Schwarz, member of the Board of Managing Directors of Credit Life
International N.V. said: "The alliance with EUROPACE gives Credit Life
International access to new customer groups and it will enable us to provide end
customers with tailor-made payment protection insurance. Our partnership with
EUROPACE will help us strengthen Credit Life International's position in the
payment protection insurance market over the long term."
Payment protection insurance will be fully integrated into the financial
marketplace's distribution processes. When finance is arranged via EUROPACE, the
customer's optimum insurance cover is calculated automatically on request. Then
it is possible to take out the right payment protection for the loan directly
from the insurer. In the case of mortgage finance, forward loans can be covered
in the same way as renewals. The protection is taken out separately from the
loan as a stand-alone agreement with regular premium payments. No medical check
is needed for the insurance cover. End customers receive an insurance
certificate to take away from the meeting with their financial adviser - and
their payments are protected right from the outset. The maximum instalment
insured is EUR2,000 and the maximum sum that can be covered is EUR150,000.
Information on Credit Life International N.V.
Credit Life International N.V. is part of the RheinLand insurance group and it
is a specialist supplier of payment protection insurance in Germany and in other
European countries. In 2009, Credit Life International, whose registered office
is in Venlo, Netherlands, celebrated 30 years of providing payment protection
insurance. The company currently employs around 100 people.
Contact:
Credit Life International N.V.
Hans-Willi Knopf
Phone: +49 (0)2131 2010 7040
Email: presse@creditlife.net
Information on Hypoport AG
As an independent financial product distributor that runs a B2B financial
marketplace, Hypoport operates successfully in two mutually reinforcing
segments. It always provides the simplest access to the best financial services.
In the form of EUROPACE - its online financial marketplace - Hypoport develops
and operates the largest German platform offering mortgages, building finance
products and personal loans. A fully integrated system links more than 140
partners - banks, insurers and financial product distributors. Several thousand
users execute roughly 10,000 financing transactions worth a total of up to
EUR1.5 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
investments. Dr. Klein & Co. AG has been a major financial service partner to
housing companies, local authorities and commercial property investors since
1954. Hypoport AG is headquartered in Berlin, employs more than 450 people and
is listed in the Prime Standard of the Frankfurt Stock Exchange.
Contact
Hypoport AG
Michaela Reimann (Group Communications Manager)
Phone: +49 (0)30 420 861 936
Email: michaela.reimann@hypoport.dewww.hypoport.de
Key data on Hypoport's shares
ISIN DE 0005493365
WKN 549336
Stock exchange symbol HYQ
Further inquiry note:
Michaela Reimann
Hypoport AG
Group Communications Manager
Phone: +49 (30) 42086 - 1936
e-mail: michaela.reimann@hypoport.de
end of announcement euro adhoc
--------------------------------------------------------------------------------
company: Hypoport AG
Klosterstraße 71
D-10179 Berlin
phone: +49(0)30 42086-0
FAX: +49(0)30 42086-1999
mail: ir@hypoport.de
WWW: http://www.hypoport.de
sector: Financial & Business Services
ISIN: DE0005493365
indexes: CDAX, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English