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Netfonds AG
ISIN: DE000A1MME74
WKN: A1MME7
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Netfonds AG · ISIN: DE000A1MME74 · Newswire (Company)
Country: Deutschland · Primary market: Germany · EQS NID: 1817185
18 January 2024 08:33AM

Strategic acquisition to further develop the insurance division and strengthen profitability


EQS-News: Netfonds AG / Key word(s): Mergers & Acquisitions
Netfonds: Strategic acquisition to further develop the insurance division and strengthen profitability

18.01.2024 / 08:33 CET/CEST
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

Strategic acquisition to further develop the insurance division and strengthen profitability

Hamburg, 18. January 2024 -
Netfonds (ISIN: DE000A1MME74) strengthens its insurance division by acquiring a majority stake in Meine Finanzkanzlei GmbH (MFK), Lengerich.

Netfonds acquired the strategic majority stake through its fully owned subsidiary NVS Netfonds Versicherungsservice AG (NVS). This acts as a multiple general agent and service provider for various intermediaries with a licence in accordance with §34d. Numerous banks and sales companies are among the customers of NVS. It also acts as a processing partner for the "CareFlex" employee business of IGBCE Bonusagentur and its subsidiary IGBCE Bonusassekuranz. The management and a large number of MFK consultants will also remain long-term shareholders in the company.

"The acquisition of shares in MFK will immediately strengthen the profitability of our insurance division and, in particular, boost our service subsidiary NVS," says Peer Reichelt, CFO of Netfonds AG.

Acquisition of MFK strengthens growth and scaling in the Netfonds insurance division

The acquisition of shares in MFK represents an important step in the strategic development of Netfonds Versicherungsservice AG. MFK is a network of advisors that has been cooperating with the NVS on a basis of trust for many years. The partners of MFK provide support for customer advice in banking organisations that are affiliated with the NVS. These services are increasingly in demand from banks. The acquisition of stake in MFK by the NVS will significantly strengthen the cooperation with regard to this important target group. In addition, the investment combines existing expertise in order to strategically develop and expand target group support in the collective and bancassurance business area. 

"With the NVS investment in MFK, we are gaining strength in the implementation of our strategic orientation in the areas of bancassurance and cooperation with the IGBCE Bonusagentur. This will enable us to be even closer to our customers in future with our hybrid advice," says Frank Sehner, Managing Director of MFK.

Customer potential of three million employees 

The cooperation agreement between the NVS and the IGBCE Bonusagentur was also extended on a long-term basis in connection with the acquisition of shares in MFK. With the strength of the IGBCE and a customer potential of over three million employees and their family members, the IGBCE Bonusagentur develops and negotiates collective preventive models on the market. 

One example is CareFlex Chemie, the first collectively agreed supplementary long-term care insurance for an industry with more than 500,000 employees. The NVS takes over the administration for the collectively agreed and non-collectively agreed insurance business. As a strategic partner of IGBCE, MFK is responsible for supporting the employee business and advising selected private and corporate customers. 

"I am very pleased about this important milestone. There has been a trusting partnership between Netfonds and MFK for many years. With this acquisition, we will bundle our competences and thus reach and support the existing target groups even better," says Martin Steinmeyer, CEO of Netfonds AG.  

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Further information on the Netfonds Group and its affiliated subsidiaries can be found at www.netfonds.de.

Netfonds AG
Heidenkampsweg 73
20097 Hamburg

Investor Relations
Philip Angrabeit
Phone: +49 40 822 267 142
E-mail: pangrabeit@netfonds.de

About the Netfonds Group
The Netfonds Group is a leading platform for administration, consulting and regulation for the German financial industry. Under the finfire brand, the company provides its customers and partners with a cloud-based technology platform for the complete processing and administration of business transactions. Netfonds' customers thus benefit from one of the most modern software solutions on the market, which significantly simplifies the advisory process, makes it secure and enables target group-specific advice. The shares of Netfonds AG are listed in the m:access segment of the Munich Stock Exchange and can be traded via XETRA.  


18.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Netfonds AG
Heidenkampsweg 73
20097 Hamburg
Germany
Phone: +49 40 822267 0
E-mail: info@netfonds.de
Internet: www.netfonds.de
ISIN: DE000A1MME74
WKN: A1MME7
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich (m:access)
EQS News ID: 1817185

 
End of News EQS News Service

1817185  18.01.2024 CET/CEST

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