DGAP-Ad-hoc: DFV Deutsche Familienversicherung AG / Key word(s): Alliance 
CareFlex: New consortium distribution with reinsurance role for Deutsche 
Familienversicherung 
 
30-Dec-2020 / 20:22 CET/CEST 
Disclosure of an inside information acc. to Article 17 MAR of the Regulation 
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
*CareFlex: New consortium distribution with reinsurance role for Deutsche 
Familienversicherung* 
 
- DFV assumes role of reinsurer and is no longer primary insurer and IT 
service provider in the CareFlex consortium 
 
- Outlook 2021: No profitability yet, but additional organic growth planned 
in 2021 
 
*Frankfurt am Main, 30 December 2020 *- DFV Deutsche Familienversicherung AG 
("DFV" or "Deutsche Familienversicherung"), a fast-growing and leading 
InsurTech company in Europe, came up with the idea for the first 
employer-financed supplementary long-term care insurance CareFlex. This has 
been implemented by the collective bargaining parties in the collective 
agreement for the chemical industry at the end of 2019 as CareFlex Chemie. A 
consortium of Barmenia Krankenversicherung AG, DFV and R+V 
Krankenversicherung AG was formed for this purpose. DFV had a 35% share in 
this consortium. 
 
Based on intensive communication with the Federal Financial Supervisory 
Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) to prove 
sufficient security in the calculation of the actuarial interest rate for 
CareFlex Chemie, the Management Board of DFV reviewed the overall project 
again. Against the background of an expected additional investment capital 
of &euro 50 million per year at DFV, the Management Board decided that the 
risk of generating the calculated actuarial interest rate clearly outweighs 
the advantages of remaining a primary insurer in the CareFlex consortium. At 
DFV's request, the tariff parties and the members of the consortium have 
therefore agreed today that DFV will withdraw from the CareFlex Chemie 
project as primary insurer. DFV will conclude a reinsurance contract with 
Barmenia. DFV will thus no longer be responsible for the IT implementation 
of CareFlex Chemie. The necessary agreements have been signed today. The 
CareFlex tariff was calculated and launched at the end of 2019 in a phase of 
economic prosperity. Triggered by the global Corona pandemic, Germany 
experienced two waves of infection and two lock-downs of the economy. An end 
to the current lock-down is not in sight. Experts predict a third wave of 
infection and a "herd immunity" cannot be expected before 2022. Against this 
background, the Management Board considers the disproportionate increase of 
the investment capital by &euro50 million annually to be too risky and no 
longer justifiable for the size of Deutsche Familienversicherung. 
 
DFV remains convinced of the innovative CareFlex Chemie project and will 
continue to be involved as a reinsurer in the first industry solution of 
this kind. As a reinsurer, however, DFV will no longer assume the risk of 
the capital investment, but only the underwriting risks, which are not 
subject to any influences from Corona pandemic or its economic consequences. 
Due to DFV's withdrawal as primary insurer from the CareFlex consortium, the 
originally planned portfolio growth of &euro 70 million gross in 2021 will 
no longer be realised. Instead, DFV as a reinsurer expects a portfolio 
increase of &euro 40 million in the same period. 
 
Since DFV as a reinsurer is no longer responsible for the run-off of 
CareFlex Chemie, the financial compensation calculated for this no longer 
applies, although this is not offset by any additional CareFlex-related 
expenses. DFV can therefore concentrate on its core business. For 2021, DFV 
is aiming for a disproportionate increase in new business, the 
internationalisation of the company and the introduction of new digital 
insurance products as well as the continuation of digitalisation overall. 
Against this background, DFV does not yet expect a positive result in 2021. 
 
Press & Investor Relations Contact 
 
Lutz Kiesewetter 
Head of Corporate Communications & Investor Relations 
Phone: +49 69 74 30 46 396 
E-mail: Lutz.Kiesewetter@deutsche-familienversicherung.de 
 
Information and Explanation of the Issuer to this News: 
 
*About DFV Deutsche Familienversicherung AG* 
 
DFV Deutsche Familienversicherung AG (ISIN DE000A0KPM74) is a fast-growing 
Insurtech company. As a digital insurance company, DFV covers the entire 
value chain with its own products. The aim of the company is to offer 
insurance products that people really need and understand immediately 
('Simple & Sensible'). DFV offers its customers award-winning supplementary 
health insurance (dental, health and long-term care insurance) as well as 
accident and property insurance policies. Based on its ultra-modern and 
scalable IT system developed in-house, the company is setting new standards 
in the insurance industry with consistently digital product designs and the 
option of taking out policies via digital language assistants. The shares of 
DFV Deutsche Familienversicherung AG (ISIN: DE000A2NBVD5) are listed on the 
Regulated Market of the Frankfurt Stock Exchange (Prime Standard). 
 
30-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory 
Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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: 1157963 
 
End of Announcement DGAP News Service 
 
1157963 30-Dec-2020 CET/CEST

(END) Dow Jones Newswires

December 30, 2020 14:22 ET (19:22 GMT)