DGAP-News: DFV Deutsche Familienversicherung AG / Key word(s): Quarter Results/Quarterly / Interim Statement 
Deutsche Familienversicherung continues dynamic growth in Q1 2021 (news with additional features) 
2021-05-12 / 08:00 
The issuer is solely responsible for the content of this announcement. 
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  . Gross written premiums significantly up in Q1 2021; 25% growth year-on-year 
  . Slightly positive development of the claims ratio in both supplementary health and property insurance 
  . Investment result significantly improved - implementation of bundle of measures progresses 
  . Cost management initiative launched 
  . Effects of ongoing COVID-19 pandemic limited by stable market position, digital business model and robust financial 
    position 
  . New cooperation with FirstVet supports growth in pet insurance 
  . Drivers of profitability developing as planned - Group result forecast for 2021 is confirmed 
Frankfurt am Main, 12 May 2021 - DFV Deutsche Familienversicherung AG ("DFV", "Deutsche Familienversicherung"), the 
digital insurance company and a leading insurtech in Europe, has had a successful first quarter of 2021 and is 
consistently continuing its dynamic growth. With regard to the communicated operational annual targets for 2021, the 
company is on time target. 
"Our digital sales engine continues to run at full speed, largely unaffected by the ongoing lockdown in Germany. The 
extremely positive business development in the first quarter is clear evidence of this. In the area of property 
insurance, we are benefiting from the strong growth in pet insurance. This market still offers us enormous growth 
opportunities. In addition, we succeeded overall in increasing the premiums per new contract. Thus, in terms of premium 
volume in new business, we are even above the time target," comments Dr Stefan Knoll, Chairman of the Board and founder 
of Deutsche Familienversicherung. 
Pleasing new business in the first quarter of 2021 
New business developed better than expected in the first three months of 2021 with a premium volume of EUR 7.9 million. 
DFV's digital sales advantage is paying off in full in the ongoing pandemic period and enables the consistent 
continuation of the dynamic growth course. In addition, the company further increased the share of property insurance 
in the newly generated premium volume by 2 percentage points to 22.7% (Q1 2020: 20.7%) in line with its Group strategy, 
which also provides for increasing diversification of DFV's product portfolio. 
Gross premiums written increased significantly by 25.0% to EUR 33.0 million (Q1 2020: EUR 26.4 million). While premiums 
in supplementary health insurance increased by 22.2%, growth in property insurance was a pleasing 63.4% in the first 
quarter of 2021. 
Profitability increase and Solvency II ratio at 333 per cent 
The consolidated result after taxes improved significantly in the first three months of 2021 and almost reached 
break-even at EUR -0.1 million (Q1 2020: EUR -5.6 million). The total IFRS comprehensive income was slightly positive 
at EUR 0.1 million (Q1 2020: EUR -9.5 million). The main drivers of this development were higher premium income and a 
significantly improved investment result. Expenses for insurance benefits, on the other hand, rose only moderately. 
DFV's Solvency II ratio was 333% as at 31 March 2021 and thus remained well above the defined target range. 
Cooperation with FirstVet as a growth driver in pet insurance 
As part of Deutsche Familienversicherung's growth strategy, there is currently a particular focus on expanding the DFV 
product range, especially in the area of animal insurance. The market for animal health is booming worldwide; according 
to estimates, the global market volume will rise to around USD 40 billion in 2021. DFV's expert-award-winning animal 
health insurance products are very well received in the market - animal health is one of DFV's growth drivers. 
Deutsche Familienversicherung has entered into a new cooperation with FirstVet, the "online vet" founded in Stockholm 
in 2016. FirstVet is now active in six European countries, the cooperation with DFV relates to the German market. Since 
April, all customers of DFV-TierkrankenSchutz and "Petprotect" have had the opportunity to have free video 
consultations with FirstVet. Within 30 minutes, customers can get in touch with licensed veterinarians via the DFV app 
if their pets are suspected of being ill - and they can do so from the comfort of their own home, without the hassle of 
travelling and waiting times. This free service is a unique selling point in the German market. The insurtech thus also 
offers its customers state-of-the-art digital services in the area of telemedicine and also sets the highest service 
standards in animal health insurance. 
2021 - Internationalisation, professionalisation, increased efficiency 
In the course of its internationalisation, Deutsche Familienversicherung will enter the Austrian market on 1 July 2021 
and offer a selected product there. This represents the achievement of an important milestone for DFV, as it lays the 
foundation for further growth. Additional initiatives - such as the establishment of another insurance company - are in 
the pipeline. 
For 2021, Deutsche Familienversicherung is again planning to invest EUR 30 million in sales activities. At the same 
time, new initiatives to develop digital new products and to further increase the efficiency of internal processes are 
progressing. This also includes the implementation of measures to reduce opex (operating expenses) and professionalise 
asset management, which should contribute to increasing profitability. DFV expects to be able to improve the 
consolidated result before taxes to around EUR -4 million in 2021. 
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 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 
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 
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Additional features: 
File: DFV_Group_Key_Financials_Q1_2021 
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2021-05-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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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:  1195547 
 
End of News   DGAP News Service 
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1195547 2021-05-12


 
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(END) Dow Jones Newswires

May 12, 2021 02:01 ET (06:01 GMT)