The insurtech companies xbAV AG and xbAV Beratungssoftware GmbH merge. In addition, CFO Malte Dummel now also becomes COO.
Munich, January 25, 2021 – The insurtech companies xbAV AG and xbAV Beratungssoftware GmbH are merging. The team of the former subsidiary has been fully integrated into xbAV AG.
“The synergy effects were valuable right from the start,” says Martin Bockelmann, CEO of xbAV. “Both companies have grown together more and more. Integration into the AG is the logical consequence.”
In 2015, xbAV acquired the companies KS Software and Entgeltumwandler. Both IT companies were merged into the subsidiary xbAV Beratungssoftware.
“Since we switched to platform technology, the teams have been working in a fully networked way,” says Reinhard Janning, Chief Platform Officer (CPO) at xbAV. “We are all working together on one platform. The central platform for old-age provision, which makes it possible to advise, conclude and manage online. Our goal is to make retirement planning simple for everyone involved. Now also integrated organizationally and legally.”
Furthermore, in addition to his duties as Chief Financial Officer (CFO), Malte Dummel will assume the position of Chief Operating Officer (COO). As COO, he is now responsible for the operational implementation of the corporate strategy and growth. Malte Dummel retains his existing responsibilities for Finance, Investor Relations, Human Resources and Legal.
“xbAV has grown rapidly in recent years. In order to further expand this market-leading position, ‘Operational Excellence’ is now crucial for us. To continuously optimize company processes and consistently implement the corporate strategy in the process,” explains Lars Hinrichs, Chairman of the Supervisory Board at xbAV.
“Malte was the first board member we hired externally. What we have achieved together with him over the last three years is outstanding,” adds Martin Bockelmann, CEO and founder of xbAV. “The COO is a key role for us to take xbAV to the next level. This key role is perfectly filled with Malte.”
“We want to offer our customers the best possible independent pension platform and create sustainable added value for our investors,” says Malte Dummel. “To do that, we’ve assembled a great team. Together, we look forward to making annuities and life insurance simple.”
Malte Dummel joined xbAV as CFO in 2017. Previously, he spent eight years at Goldman Sachs in London, where he advised major German and European companies on pension and corporate finance issues. Dummel earned master’s and bachelor’s degrees in economics with a concentration in finance and statistics from Oxford University.
The xbAV Executive Board includes Martin Bockelmann CEO, Malte Dummel COO & CFO, Reinhard Janning CPO and Jochen Pielage CTO.
Contact
Stefanie Dadson | stefanie.dadson@xempus.com | Tel: 089 2000 17 59
