Fidelis in partnership with Germany's Wüstenrot Bausparkasse
Specialty re/insurer Fidelis Insurance Ireland has provided business-to-business credit default insurance to Germany's Wüstenrot Bausparkasse AG to help strengthen its mortgage offering.
The move is designed to tackle the problems created by the rising cost of real estate and the discrepancy between property prices and determined mortgage lending values, which has an impact on risk management for banks and is particularly pronounced in Germany.
Simon Crone, chief underwriting officer at Fidelis Insurance Ireland, said: "A credit default insurance optimises both aspects and ultimately leads to a lower-risk product range.”
Anke Lämmerzahl and Thomas Ehrhardt, managing directors of REMCI Finance, which is brokering the partnership and will manage it on an ongoing basis, said: "Credit default insurance also expands the product range in mortgage financing and optimises the lenders' earnings opportunities.”
Stephan Müller, head of sales at Wüstenrot Bausparkasse, said: "We are very pleased to start the partnership cooperation with Fidelis Insurance and REMCI Finance and thus increase our sales power in mortgage financing.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze