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DFV Deutsche Familienversicherung AG: Financial year 2023 and outlook - Seite 2

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.

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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.