EQS-News

Deutsche Familienversicherung: Profitability target achieved and new business target exceeded

EQS-News: DFV Deutsche Familienversicherung AG / Key word(s): Preliminary Results Deutsche Familienversicherung: Profitability target achieved and new business target exceeded (news with additional features) 14.03.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

Preliminary financial result 2023

Deutsche Familienversicherung: Profitability target achieved and new business target exceeded

• New business volume of EUR 19 million in 2023, well above plan of EUR 15 million
• Insurance sales increase by 7% to EUR 118 million
• Robust operating result of EUR 8.5 million (2022; EUR 8.0 million)
• Consolidated earnings before taxes of EUR 5 million in 2023 (target: EUR 3-5 million)
• Strong HGB result of EUR 7.8 million (2022: EUR 2.3 million)

Frankfurt am Main, 14 March 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. Despite the ongoing crises and war in Europe, the company continued to grow strongly in 2023, increasing its business volume by EUR 19 million and generating consolidated earnings before taxes of EUR 5 million (IFRS).

"As every year, we are achieving all the targets we set ourselves and have been doing everything right for years! The gross written premium volume has tripled since the IPO, the capital investment volume has more than quadrupled, the company is profitable and on the way to being able to pay dividends. None of the start-ups categorised as InsurTech have achieved this so far. Unfortunately, the share price has more than halved from EUR 12.30 to EUR 6.00 since the IPO. Nevertheless, I am confident that the capital market will honour success stories like DFV's in the future. In any case, going public was the right thing to do," comments Stefan Knoll, Chairman of the Executive Board and founder of Deutsche Familienversicherung.