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Q3 2022 – Interim Statement Deutsche Familienversicherung remains profitable
Frankfurt am Main, 17 November 2022 – DFV Deutsche Familienversicherung AG ("DFV", "Deutsche Familienversicherung"), the digital insurance company and a leading InsurTech in Europe, generated a pre-tax consolidated result of EUR 2.0 million in the first nine months of 2022. Premium income, including the reinsurance component, grew by 35% overall. The company thus continues to achieve significant growth while at the same time reaching the promised profitability in 2022. „The change in the sales strategy from cost-intensive sales to intelligent and targeted digital sales is having an effect. In addition, the process automation projects, the cost management initiatives and the incipient economies of scale are contributing to the positive earnings development. We are on track to keep our promise and become profitable again in 2022, for the first time since 2017,“ comments Dr Stefan Knoll, Chairman of the Board and founder of Deutsche Familienversicherung. Premium income grows by 35% Gross written premiums grew by 35% to EUR 137.1 million in the first nine months of 2022. The core business of primary insurance remains on a growth path. Since last year, it has been supplemented by the assumption of reinsurance risks. Group profit before tax improved significantly to EUR 2.0 million in the first nine months of 2022 (9M 2021: EUR 0.1 million). The main driver for this development was the continued measures to reduce operating expenses (OPEX), including reduced distribution expenses. Deutsche Familienversicherung's Solvency II ratio remained stable in the third quarter of the year and continues to be well above the defined target range. Confirmation of the outlook for 2022: Reaching the profit zone with further significant premium growth DFV confirms its positive outlook for the current financial year. Provided that the uncertain financial, political and economic conditions do not lead to any extraordinary negative effects on earnings in the fourth quarter, Deutsche Familienversicherung still plans to close the 2022 financial year with a slightly positive pre-tax result 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 End of Media Release Issuer: DFV Deutsche Familienversicherung AG Key word(s): Insurance
17.11.2022 CET/CEST Dissemination of a Press Release, 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: | 1489883 |
| End of News | EQS Media |
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1489883 17.11.2022 CET/CEST
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