Wuestenrot & Wuerttembergische AG
13.18
EUR
-0.05
(-0.38%)
ISIN
DE0008051004
Return %
Stock
S&P 500
1Y
-7.51
14.20
3Y
-7.12
81.12
5Y
-27.30
68.34
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
EUR
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in mil. unless spec.Semi-annual Revenue
EUR
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in mil. unless spec.Semi-annual Earnings Per Share
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in mil. unless spec.Semi-annual Dividends Per Share
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in mil. unless spec.Company Description
- CEO
- Jürgen Albert Junker
- Full Time Employees
- 7,565
- Sector
- Finance
- Industry
- Multi-line insurance
- Address
- W&W-Platz 1 Kornwestheim BW Germany 70806
- IPO Date
- Sep 9, 1999
- Website
- ww-ag.de
- Similar Companies
- Business
- Wüstenrot & Württembergische AG (W&W AG) serves as the strategic management holding company for the W&W Group, a financial services provider specializing in housing finance and insurance products primarily for retail and commercial customers in Germany. Founded in 1999 through the merger of Wüstenrot Bausparkasse AG, established in 1921 as Germany's oldest building society, and Württembergische Versicherung AG, dating back to 1828, the company is headquartered in Kornwestheim near Stuttgart and operates almost exclusively within Germany through its Housing and Insurance divisions, alongside digital initiatives like Adam Riese GmbH. The Housing division, led by Wüstenrot Bausparkasse AG, offers home loan savings contracts, construction financing including mortgages, bridging loans and advance financing, banking products such as current and savings accounts, property development via Wüstenrot Haus- und Städtebau GmbH, real estate brokerage through Wüstenrot Immobilien GmbH, and energy consulting services from Wüstenrot Energieberatung GmbH; the Insurance division, encompassing Württembergische Versicherung AG, Württembergische Lebensversicherung AG and Württembergische Krankenversicherung AG, provides life insurance including classic, unit-linked and pension products like Genius annuity and bAVKomfort, health and disability insurance with offerings such as Mein Vitalbudget budget policies, property/casualty coverage including motor, household, liability, legal expenses, transport and technical insurance, as well as occupational pension schemes via Allgemeine Rentenanstalt Pensionskasse AG. Products distribute through omnichannel channels featuring the company's mobile sales force, bank and insurance partners like Commerzbank, Santander, ING Germany, Allianz and HUK-COBURG, brokers and online platforms, serving over 6.5 million customers with a workforce of approximately 7,600 employees across 17 group companies. Recent developments include Wüstenrot Bausparkasse AG's acquisition of start:bausparkasse AG effective July 1, 2024, followed by its merger with retroactive effect from January 1, 2024, establishing a new sales partnership with SÜDWESTBANK BAWAG AG Niederlassung Deutschland for building society and construction financing and a strategic cooperation with ING Germany; Württembergische Versicherung AG's completion of a 25% stake purchase in claims service provider riparo GmbH in Q1 2024 alongside R+V Service Holding GmbH and Provinzial Beteiligungsgesellschaft mbH to secure motor vehicle repair services; expansion of energy-efficient renovation services via the new Wüstenrot Energieberatung GmbH subsidiary; progression of the bausparen@wüstenrot (b@w) project into its final phase with SAP-based core banking system implementation, transferring portfolios from Aachener Bausparkasse AG and start:bausparkasse AG; IT transformations such as merging policy management systems at Württembergische Lebensversicherung AG into msg.Life Factory and introducing sales workstation VAP; launch of AI initiatives including a customer service call-filtering assistant and a new Data, Processes and AI department since July 2024; redemption of Württembergische Lebensversicherung AG's €250 million subordinated bearer bond effective July 15, 2024; and Executive Board changes with Jürgen Steffan departing as CRO and CHRO on June 30, 2024, prompting reallocations including CEO Jürgen A. Junker assuming HR oversight and establishing an AI Competence Centre. The group advances its "W&W Besser!" strategy across finance, market growth, processes/technology and employees, emphasizing digitalization, cybersecurity via the Cybershield program, cost management amid claims inflation and natural disasters like the 2024 Orinoco storm, and sustainability, while reporting 2024 IFRS consolidated net income of €36 million despite high losses, with new business growth in lending, health premiums and property/casualty contributions.