EQS-News

DFV Deutsche Familienversicherung AG: Profit above expectations and above-average growth

EQS-News: DFV Deutsche Familienversicherung AG / Key word(s): Annual Report/Annual Results DFV Deutsche Familienversicherung AG: Profit above expectations and above-average growth (news with additional features) 30.03.2023 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

 

Financial year 2022 and outlook
 

Deutsche Familienversicherung: Profit above expectations and above-average growth                                         
 

• Revenues grow by 18 % to EUR 184 million, net premiums increase by 34 %.
• 2022 consolidated profit before tax of EUR 1.7 million (2022 guidance: EUR 0-1 million)
• Further cost savings and efficiency gains
• Executive Management Team (EMT) established and new Management Board member appointed
• Guidance 2023: further profitable growth

 

Frankfurt am Main, 30 March 2023 - DFV Deutsche Familienversicherung AG ("DFV", "Deutsche Familienversicherung"), the innovative direct insurer from Frankfurt, has once again grown strongly despite ongoing crises, consistently high inflation rates and war in Europe, and for the first time since its IPO is once again profitable, with consolidated earnings before taxes of EUR 1.7 million.

"Despite all the difficulties in the macroeconomic environment, we can be satisfied with the results of 2022. The (re-)achievement of profitability with continued above-average growth is a good basis for continuing profitability as a digital listed direct insurer in 2023 and the following years with consistent growth," comments Dr Stefan Knoll, CEO and founder of Deutsche Familienversicherung.

Business volume grows by 17%

With a total new business volume of EUR 35 million, the total premium volume rose to EUR 188 million at the end of 2022. This corresponds to an increase of 17 % compared to the portfolio volume of EUR 161 million at the end of 2021. EUR 17 million of the new business volume (current premiums for one year) was attributable to primary insurance. In the inwards reinsurance business taken up in 2021, the new premium volume amounted to EUR 18 million in 2022.