2023-09-05 05:47:00
The insurer Helvetia will approach the financial services portal Moneypark with the aim of increasing mortgage volumes ‘significantly’ and offering cross-services. This operation will result in cost synergies and up to 30 job cuts.
As part of the merger, Helvetia customers will have access to Moneypark’s mortgage and real estate advisory services, while the latter’s customers will benefit from Helvetia’s pension and non-life insurance products, according to a press release published on Tuesday. The two respective platforms Helvetia Immoworld and Moneypark will be merged.
The objective of the two companies is to “significantly increase over the next five years” the annual mortgage volumes, which currently stand at 3 billion francs.
At the same time, Helvetia and Moneypark plan to achieve synergies of 6 to 8 million francs from 2024, leading to the elimination of 25 to 30 positions in administrative functions. The insurer, which holds a stake in Moneypark, will have to make a value adjustment of 27 million as part of this merger.
A year ago, Helvetia announced the launch of the online real estate platform Helvetia Immoworld together with Moneypark.
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