DGAP-News

Deutsche Familienversicherung reaches profit zone with 37% growth - Seite 2

Premium income grows by 37%

Gross written premiums grew by 37% to EUR 45.3 million in the first quarter of 2022, with non-life insurance achieving disproportionate growth, as in 2021, and accounting for 10% of total primary insurance business. Pet health insurance had a particularly strong share in this, growing by 35% compared to the previous year. An additional very positive aspect is the further increase in average premiums, which rose from EUR 237 to EUR 252 per contract. The inwards reinsurance business newly taken up in 2021 generated gross written premiums of EUR 9.0 million in the first quarter of 2022.

Significant increase in profit

The consolidated profit before tax improved significantly to EUR 1.4 million in the first three months of 2022 (Q1 2021: EUR -0.1 million). The main drivers for this development were the economies of scale that set in with the dynamic growth and the continuation of measures to reduce operating expenses (OPEX), including reduced distribution expenses. A contribution to the improved result was also made by the investment result, which at EUR 1.9 million was significantly above the previous year (EUR 0.5 million). Deutsche Familienversicherung's Solvency II ratio remained stable in the first quarter and continued to be well above the defined target range.

DFV dental cover is "very good" again

In its 06/2022 test, Stiftung Warentest awarded the DFV dental care tariff the quality rating "very good" for the seventh time. With benefits in the areas of dental treatment, prophylaxis, dentures, orthodontics and tooth preservation, the dental care of the award-winning DFV tariff covers a broad spectrum.

DFV has also been able to demonstrate the outstanding quality of its products in the past with numerous awards in various categories. In the last 15 years, Deutsche Familienversicherung has received a total of over 180 seals of approval. The awards are an expression of the high performance and innovative capacity of the fast-growing digital insurance company.

Outlook for 2022 confirmed: reaching the profit zone with further significant premium growth

DFV confirms its positive outlook for the current financial year: the company expects to continue its strong growth in 2022. Including the inwards reinsurance business, a new business volume of around EUR 35 million is expected to be realised. Provided that the uncertain financial, political and economic conditions do not lead to any extraordinary negative influences on the result, Deutsche Familienversicherung is planning a slightly positive pre-tax result for the 2022 financial year.