Premiere on the digital financing marketplace DEBTVISION
Württembergische Lebensversicherung is the first investor to digitally subscribe public-sector Schuldschein
Württembergische Lebensversicherung AG was the first investor to subscribe to a Schuldschein from the public sector via the new digital marketplace DEBTVISION. The borrower is a large local authority with an excellent reputation in the Schuldschein market. The transaction has a volume of EUR 50 million and a term of 30 years.
DEBTVISION is a digital financing platform jointly developed by LBBW and Börse Stuttgart. Here, companies seeking capital, financial institutions and public institutions – all with good to very good credit ratings – meet established, financially strong investors. The transaction process in this front-end system is fully electronic, from structuring to subscription. The platform was launched in summer 2018, is currently working with over 200 investors and has already successfully marketed more than 20 Schuldschein transactions after only nine months. The Schuldschein now taken over directly by Württembergische Lebensversicherung is the first transaction with a public corporation as borrower.
„We are using this technical innovation to make our investment processes even more efficient,” explains Alexander Mayer, member of the Management Board of Württembergische Lebensversicherung AG. Württembergische Lebensversicherung accesses high-quality Schuldscheine directly via the platform and receives all documents and research information required for credit analysis via the digital marketplace.
The positive experience with the current transaction should also be reflected in future investment decisions. „We are following the technical development very closely and can imagine using digital technologies for other financial investments as well,” says Oliver Bleickert, Head of Portfolio Management Pensions, W&W Asset Management GmbH.
„With Württembergische Lebensversicherung, we have a partner that is also making progress in digitization. This Schuldschein transaction once again demonstrates the strengths of digital and thus fast and efficient implementation of financial transactions. With the DEBTVISION financing platform we will continue to actively shape this development on the market,” says Dr. Christian Ricken, Board Member for Capital Markets at LBBW.
DEBTVISION is a joint subsidiary of LBBW and Börse Stuttgart. Founded in 2018 and headquartered in Stuttgart, the company operates the digital marketplace of the same name for Schuldschein loans. The Managing Director of DEBTVISION is Christoph Steinbrich, an experienced and in the market acknowledged Schuldschein expert.
About Württembergische Lebensversicherung
Württembergische Lebensversicherung AG (WL) was founded in 1833 as “Allgemeine Rentenanstalt zu Stuttgart” and was the first company in Germany to commence pension insurance business. Today, the company offers a wide range of products from classic and unit-linked life and pension insurance, Riester and basic pensions, training and occupational disability insurance, occupational pension provision and financing. Thanks to this product diversity and high service quality, the company is one of the largest life insurers in Germany. In 2005, Württembergische Lebensversicherung acquired a majority stake of Karlsruher Lebensversicherung and fully integrated it. Together with Württembergische Versicherung, Württembergische Krankenversicherung, ARA Pensionskasse and Karlsruher Lebensversicherung, Württembergische Lebensversicherung forms the Württembergische Versicherungsgruppe. Since 1999, this has been the insurance division of the Wüstenrot & Württembergische Group.
About Landesbank Baden-Württemberg (LBBW)
Landesbank Baden-Württemberg (LBBW) is a medium-sized universal bank and central institution of the savings banks in Baden-Württemberg, Saxony and Rhineland-Palatinate. With total assets of EUR 241 billion and 10,000 employees (as of December 31, 2018), LBBW is one of the largest banks in Germany. Its core activities are corporate customer business, especially with medium-sized companies, and business with private customers and savings banks. Another focus is on real estate and project financing in selected markets as well as customer-oriented capital market business with banks, savings banks, and institutional investors.