Provinzial acquires a stake of around 5% in JDC

JDC Group AG (ISIN DE000A0B9N37) is selling around 5% of the shares it has acquired from two share buyback programs over the past years to Provinzial Group, Germany's second largest public insurer. Both sides signed a corresponding share purchase agreement today. JDC will thus receive around EUR 13 million in liquid funds. Hidden reserves of around EUR 7 million will be raised, by which the equity of the JDC Group will increase.

The existing joint venture with Provinzial, Einfach-gut-versichert GmbH, is used to handle third-party insurance products for private customers within the savings bank sales organization in Provinzial's business region. For this purpose, an interface has been created to the Sparkassen-Versicherungsmanager, which is intended to become the central IT system of the public insurers in the insurance platform business for private customers. Savings bank customers can thus obtain a complete overview of their financial and insurance products and, in addition to accounts and securities accounts in online banking, can now also see their insurance policies in the Sparkassen Versicherungsmanager.

The very long-term cooperation between Provinzial and JDC is now strategically underpinned by the investment.

"We warmly welcome Provinzial as a shareholder of JDC" says Ralph Konrad, CEO of JDC Group. "The cooperation with the savings banks via S-VM has started well. We were able to sign long-term contracts with Provinzial, Sparkassen Versicherung and VKB and can thus basically serve around 300 of the 370 German savings banks. The fact that Provinzial is now a shareholder in the company alongside VKB shows the long-term and strategic commitment to JDC in business with the savings banks."

"The strategic investment in JDC is an important step in further strengthening our digital platform capability," says Provinzial Group CEO Dr. Wolfgang Breuer. "Thanks to this long-term partnership, we will further deepen our experience from previous cooperation and achieve an even better transfer of know-how. In addition, we expect significant business and earnings growth in bancassurance and beyond. We are therefore very pleased to participate in the further development of JDC as a shareholder."

About JDC Group AG

JDC Group AG (ISIN: DE000A0B9N37) offers a digital platform for insurance, investment funds and all other financial products and services under the brands Jung, DMS & Cie., allesmeins and Geld.de. By offering and processing all product providers of the financial market with a complete product range and complete data and document supply, it creates the perfect workplace for financial intermediaries of all kinds (brokers, representatives, affiliated intermediaries, banks, exclusivity organizations, FinTechs) and the first real financial home for financial services customers via its vision systems and interfaces. Via smartphone app, tablet or PC, customers and intermediaries receive a complete overview of the individual insurance and fund portfolio, simple closing routes advisors can easily optimize their insurance portfolio and commissions in an ideal performance-cost ratio. More than 250 well-trained consultants under the FiNUM brand complement the platform offering for demanding and upscale private customers. With more than 16,000 connected platform users, around 1.6 million customers, annual sales of around two billion euros, a fund portfolio of over five billion euros and annual insurance premiums of more than 1 billion euros, we are one of the market leaders in the Germanspeaking world. JDC is committed to sustainability and is committed to ESG criteria: As a digitization service provider, JDC helps to save many tons of paper and make everyday life easier for financial intermediaries and customers.

About Provinzial Group

Provinzial Versicherungskonzern, headquartered in Münster, is one of Germany's major insurance groups and has five million customers. Around 26 million people live in the Group's business territory in northern and western Germany. The Group's regional insurers, Provinzial Versicherung, Provinzial Nord Brandkasse, Hamburger Feuerkasse and Lippische Landesbrandversicherung, are firmly rooted in their respective business areas in North Rhine-Westphalia, Schleswig-Holstein, Mecklenburg-Western Pomerania, Hamburg and parts of Rhineland-Palatinate. Around 11,500 people work for the Group in the office and in the field, plus almost 1,000 trainees. High-quality customer care is guaranteed by the sales partners in more than 1,300 Provinzial agencies, 116 savings banks with their branches, and by cooperation with brokers.

Disclaimer:

The Members of the Management Board of JDC Group AG, Dr. Sebastian Grabmaier and Ralph Konrad, are holding a stake in JDC Group AG and have an own interest in the nature and content of the information provided in this announcement.