JDC Group - Business model proves resilient to COVID-19
Bancassurance advisory and service platform JDC Group’s H120 results showed healthy growth in a market environment in which traditional banks and insurers are suffering. A fast-increasing number of insurance contracts are being transferred to JDC’s platform, as contracts renewals come in from the insurance pools that were added by the large client wins announced in the last two years. Together with new client wins this will continue to drive growth. The valuation of 13.3x consensus FY21e EV/EBITDA does not seem demanding compared to international peers given the strong prospects for continued growth.JDC Group AG. JDC Group AG, formerly Aragon AG, is a Germany-based financial services company that offers brokerage financial products and consultancy services. The Company's business is divided into two business segments: Advisory and AdvisorTech. The Advisory segment provides financial products of its subsidiaries Jung, DMS & Cie. and FiNUM to end customers via independent consultants, brokers and financial service providers. In addition, this segment also operates a managed portfolio of investment funds, closed-end funds, certificates, insurance policies and other financial products. The AdvisorTech segment provides information technology (IT) and management consulting services. The Company is active in Germany and Austria. JDC Group AG operates Jung, DMS & Cie, FiNUM. Private Finance AG (Austria), FiNUM Private Finance AG (Germany) and FiNUM. Finanzhaus AG as subsidiaries.
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