EQS-News: DFV Deutsche Familienversicherung AG: Profitability target exceeded and significant growth again

Corporate News

Preliminary figures 2022

Deutsche Familienversicherung: Profitability target exceeded and significant growth again
 

Growth of gross premium income by 18 %, net by 34 % Cost efficiency is also advancing in distribution Implementation of measures to increase operational efficiency Reduction of the expense ratio from 48 % (2021) to 31 % (2022) Pre-tax consolidated net income 2022 of € 1.7 million (plan: € 0-1 million)

Frankfurt am Main, 16. Februar 2023 – DFV Deutsche Familienversicherung AG (“DFV“, “Deutsche Familienversicherung“), a digital insurer and leading InsurTech company in Europe, continues to grow profitably despite ongoing crises, consistently high inflation rates and war in Europe. The InsurTech is again realising strong growth in 2022 and has achieved positive operating profitability for the first time since the IPO, with consolidated earnings before taxes of €1.7 million.

"Our response to crisis and war was the declared goal of profitability. In 2022, we succeeded in doing so while continuing to grow at an above-average rate. This proves that our digital business model works and is resistant to crisis in the long term, just like the company itself," comments Dr Stefan Knoll, CEO and founder of Deutsche Familienversicherung.

Again strong growth in gross premium income

Gross written premiums grow by 18 % to € 184 million, including the reinsurance business taken up in 2021. In primary insurance, the volume of new business (regular premiums for one year) was in line with expectations at € 17 million.  Business development in active reinsurance was also according to plan with new business of € 18 million. The net growth in premiums was even more pronounced at 34 %.

Result 2022 better than planned

After planning a slightly positive pre-tax consolidated result of € 0 to 1 million for 2022, Deutsche Familienversicherung now expects a pre-tax consolidated result of € 1.7 million. The biggest earnings driver for the more positive development is the stringent cost management (Opex) despite rising turnover. This is an expression of more efficient sales, increased cost discipline and the increased achievement of economies of scale, primarily in the course of rising automation rates. In an extremely challenging environment, investment management focused in particular on protecting the customer funds invested in the protection assets. At the same time, the implementation of the accounting standards IFRS 9 for financial instruments and IFRS 17 for insurance contracts, which came into force on 1 January 2023, is progressing.

 
Contact

Lutz Kiesewetter

Head of Investor Relations & Corporate Communications

Telefon: +49 69 74 30 46 396

E-Mail: Lutz.Kiesewetter@deutsche-familienversicherung.de

About DFV Deutsche Familienversicherung AG

DFV Deutsche Familienversicherung AG (ISIN DE000A2NBVD5) is a fast-growing InsurTech company. As a digital insurance company, DFV covers the entire value chain with its own products. The company's goal is to offer insurance products that people really need and understand immediately ("Simple. Sensible."). DFV offers its customers multiple award-winning supplementary health insurance (dental, health, supplementary long-term care insurance) as well as accident and property insurance. Based on the state-of-the-art and scalable IT system developed in-house, the company is setting new standards in the insurance industry with digital product designs throughout as well as the option of taking out policies via digital voice assistants.
www.deutsche-familienversicherung.de