DFV DEUTSCHE FAMILIENVERSICHERUNG AG Deutsche Familienversicherung remains profitable

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17/11/2022 07:59

EQS-Media / 17.11.2022 / 07:59 CET/CEST

Corporate News

Q3 2022 – Interim Statement

Deutsche Familienversicherung remains profitable

Positive operating result for the third quarter in a row - for the first time since the IPO
Group profit before tax of EUR 2.0 million in 9M 2022 (9M 2021: EUR 0.1 million)
Premium income growth of 35%
Initiatives for cost management take effect - stabilised investment result
Outlook 2022 confirmed: Reaching the profit zone with significant growth in premium income expected

Frankfurt am Main, 17 November 2022 – DFV Deutsche Familienversicherung AG ("DFV", "Deutsche Familienversicherung"), the digital insurance company and a leading InsurTech in Europe, generated a pre-tax consolidated result of EUR 2.0 million in the first nine months of 2022. Premium income, including the reinsurance component, grew by 35% overall. The company thus continues to achieve significant growth while at the same time reaching the promised profitability in 2022.

„The change in the sales strategy from cost-intensive sales to intelligent and targeted digital sales is having an effect. In addition, the process automation projects, the cost management initiatives and the incipient economies of scale are contributing to the positive earnings development. We are on track to keep our promise and become profitable again in 2022, for the first time since 2017,“ comments Dr Stefan Knoll, Chairman of the Board and founder of Deutsche Familienversicherung.

Premium income grows by 35%
Gross written premiums grew by 35% to EUR 137.1 million in the first nine months of 2022. The core business of primary insurance remains on a growth path. Since last year, it has been supplemented by the assumption of reinsurance risks.
Group profit before tax improved significantly to EUR 2.0 million in the first nine months of 2022 (9M 2021: EUR 0.1 million). The main driver for this development was the continued measures to reduce operating expenses (OPEX), including reduced distribution expenses. Deutsche Familienversicherung's Solvency II ratio remained stable in the third quarter of the year and continues to be well above the defined target range.

Confirmation of the outlook for 2022: Reaching the profit zone with further significant premium growth
DFV confirms its positive outlook for the current financial year. Provided that the uncertain financial, political and economic conditions do not lead to any extraordinary negative effects on earnings in the fourth quarter, Deutsche Familienversicherung still plans to close the 2022 financial year with a slightly positive pre-tax result

Contact:
Lutz Kiesewetter
Head of Investor Relaations & Corporate Communications
Telefon: 069 74 30 46 396
Telefax: 069 74 30 46 46
E-Mail: lutz.kiesewetter@deutsche-familienversicherung.de

End of Media Release

Issuer: DFV Deutsche Familienversicherung AG
Key word(s): Insurance

17.11.2022 CET/CEST Dissemination of a Press Release, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	DFV Deutsche Familienversicherung AG
	Reuterweg 47
	60323 Frankfurt/Main
	Germany
Phone:	069 74 30 46 396
Fax:	069 74 30 46 46
E-mail:	presse@deutsche-familienversicherung.de
Internet:	www.deutsche-familienversicherung.de
ISIN:	DE000A2NBVD5
WKN:	A2NBVD
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1489883


End of News	EQS Media

1489883 17.11.2022 CET/CEST

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