DFV DEUTSCHE FAMILIENVERSICHERUNG AG
EQS-News: DFV Deutsche Familienversicherung AG
/ Key word(s): 9 Month figures/Quarterly / Interim Statement
Corporate News 9M 2023 - Interim statement Deutsche Familienversicherung continues to grow profitably
Frankfurt am Main, 23 November 2023 – DFV Deutsche Familienversicherung AG ("Deutsche Familienversicherung"), the innovative direct insurer from Frankfurt, generated consolidated earnings before taxes of EUR 4.4 million in the first nine months of 2023. Insurance sales grew by 8% in the same period. "Despite the crisis and the war and the continuing excessive regulation and bureaucracy, we are taking a solid and sustainable path. We have never claimed to change the industry through disruption, but through the quality of our insurance products, which we have succeeded in doing for 17 years," comments Dr Stefan Knoll, CEO and founder of Deutsche Familienversicherung. Growth driven by profitable new business The efficiency-driven restructuring of sales, supported by innovative marketing initiatives including product-related television advertising, is already having an impact in 2023. Growth in insurance revenue amounted to a pleasing 8% in the first nine months of 2023. The new active reinsurance business launched in 2021 will continue to be profitable. Solid Combined Ratio von 96% The Combined Ratio calculated in accordance with IFRS 17 improved slightly to 96.0% in the first nine months of 2023 (9M 2022: 96.7%). This reflects a continued strong operating performance and is the result of a sustained stable claims trend combined with a further reduction in administrative costs. The Insurance Service Result as an operating result under IFRS 17 rose by EUR 1.0 million to EUR 3.8 million in the 9M 2023 period. Further initiatives to increase efficiency while continuously professionalising internal processes and the continued stringent implementation of cost management (Opex) led to consolidated earnings before taxes of EUR 4.4 million (9M 2022: EUR 6.1 million). The solvency ratio (SCR) of Deutsche Familienversicherung remained stable in the first nine months of 2023 and continues to be above 300%. Investment volume grows by 14.5% As expected, the new IFRS standards for insurance companies lead to a significant increase in the volatility of the financial result because certain unrealised fluctuations in value and changes in estimates are recognised in profit or loss. Nevertheless, Deutsche Familienversicherung once again achieved stable current investment income. The investment volume grew by 14% to EUR 206.5 million in the first nine months of 2023 (9M 2022: EUR 180.4 million). Confirmation of the guidance for 2023
Deutsche Familienversicherung confirms the positive outlook for 2023 and continues on its profitable growth path. In terms of sales, the company is forecasting new and additional premiums of at least EUR 15 million for 2023. In a capital market environment that remains volatile, the management of investments remains challenging. Assuming that the macroeconomic environment does not have an extraordinary negative impact on earnings, the company continues to confirm consolidated earnings before taxes of EUR 3-5 million for 2023. Your Contact Lutz Kiesewetter Dirctor Investor Relations & Public Relations Tel.: +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 leading direct insurer. As a digital insurance company, DFV covers the entire value chain with its own products. The direct insurer'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 sets new standards in the insurance industry with digital product designs throughout.
Additional features: File: DFV_9M_2023_Key Financial Figures
23.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| 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: | 1779861 |
| End of News | EQS News Service |
1779861 23.11.2023 CET/CEST
