DFV Deutsche Familienversicherung AG: Financial year 2023 and outlook

EQS-News: DFV Deutsche Familienversicherung AG / Key word(s): Annual
Report/Annual Results
DFV Deutsche Familienversicherung AG: Financial year 2023 and outlook (news
with additional features)

25.04.2024 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Corporate News

Financial year 2023

Earnings above expectations and higher growth

  * New business volume of EUR 19 million in 2023, well above plan of EUR 15
    million

* Insurance sales increase by 7.9% to EUR 119.5 million

* Robust operating result of EUR 8.8 million (2022: EUR 8.0 million)

  * Consolidated earnings before taxes of EUR 5.6 million in 2023 (target:
    EUR 3-5 million)

* Strong HGB result of EUR 7.8 million (2022: EUR 2.3 million)

Frankfurt am Main, 25. April 2024 - DFV Deutsche Familienversicherung AG
('DFV', 'Deutsche Familienversicherung'), the leading digital direct insurer
from Frankfurt, had planned a positive consolidated pre-tax result of EUR 3
to 5 million and new and additional business of EUR 15 million for 2023. In
contrast, the actual development was significantly better than expected and
even better than reported in the preliminary figures. The company increased
its business volume by EUR 19 million and generated consolidated earnings
before taxes of EUR 5.6 million (IFRS).

'2023 is the best financial year in our company's history. We exceeded our
profit and growth targets and reduced the accumulated loss from 21 million
euros to 16 million euros. For 2024, we will continue to pursue our goals
calmly and successfully achieve the balancing act between above-average
growth and the ability to pay a dividend in 2026,' comments Dr Stefan Knoll,
Chairman of the Executive Board and founder of Deutsche
Familienversicherung.

New business 30% above plan

In 2023, new and additional business in primary insurance totalled EUR 19
million (previous year: EUR 17 million), which is almost 30% above plan.
Gross premiums written grew by 4.8% to EUR 192 million (previous year: EUR
184 million), including inwards reinsurance business. Insurance sales in
accordance with IFRS 17, which was applied for the first time, rose by 7.9%
from EUR 110 million to EUR 119 million. The company is thus growing
significantly faster than the insurance market.

Strong operating result and solid combined ratio

The operating result proved to be robust and increased by 9.0% to EUR 8.8
million in 2023 (previous year: EUR 8.0 million), clearly underlining the
operating strength and solidity of the insurance company. The combined ratio
of 92.4% (2022: 92.3%) is an expression of continued strong operating
performance and is the result of stable claims development in 2023. The
consolidated financial statements were prepared in accordance with the new
IFRS 17/9 standards for the first time, enabling the extensive project to be
implemented on time.

Further increase in consolidated net profit above expectations

After Deutsche Familienversicherung had planned positive consolidated
earnings before taxes of EUR 3 to 5 million for 2023 and reported
consolidated earnings before taxes of EUR 5 million in the preliminary
figures, earnings of EUR 5.6 million were actually achieved in the 2023
financial year. Consolidated earnings after taxes (EUR 4.2 million)
increased compared to the previous year (EUR 3.9 million). The parent
company generated a profit before taxes of EUR 7.8 million in 2023 in
accordance with HGB.

Positive outlook for 2024: profit increase and high growth

Deutsche Familienversicherung plans to consistently pursue its strategy of
profitable growth in 2024. In terms of sales, the company continues to plan
above-average growth. Assuming that the macroeconomic environment does not
cause any extraordinary negative effects on earnings, Deutsche
Familienversicherung is planning consolidated earnings before taxes of EUR
5-7 million in the 2024 financial year.

The 2023 Annual Report is available for download on our website.


Your Contact

Lutz Kiesewetter

Director Corporate Communictations & Investor 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 digital direct
insurer. With its insurance products and its own IT and process solutions,
DFV covers the entire value chain of a primary insurer. It only offers
insurance products that people really need and immediately understand
('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. The company is setting new standards in the
insurance industry with digital product designs throughout, based on a
state-of-the-art and scalable IT system developed in-house.
www.deutsche-familienversicherung.de


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Additional features:

File: https://eqs-cockpit.com/c/fncls.ssp?u=26c1631612424a9fce7006a4f22bb3e3
File description: DFV_FY 2023_Key financials

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25.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
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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:    1888739

End of News EQS News Service
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1888739 25.04.2024 CET/CEST