EQS-News

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. 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.