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DFV Deutsche Familienversicherung AG: Deutsche Familienversicherung has a solid start to 2024

EQS-News: DFV Deutsche Familienversicherung AG / Key word(s): Quarterly / Interim Statement/Quarter Results DFV Deutsche Familienversicherung AG: Deutsche Familienversicherung has a solid start to 2024 (news with additional features) 23.05.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

Q1 2024 - Interim statement

 

Deutsche Familienversicherung has a solid start to 2024

• Growth in insurance revenue of 2%
• Operating result (Insurance Service Result) increases by 9%
• Consolidated profit before taxes increases by 19%
• Guidance for 2024 confirmed: Focus on profitability

Frankfurt am Main, 23 May 2024 – DFV Deutsche Familienversicherung AG ("Deutsche Familienversicherung"), the innovative direct insurer from Frankfurt, has made a good start to 2024. Consolidated earnings before taxes totalled EUR 1.5 million in the first quarter of 2024. The company also achieved its growth target and increased gross premiums written (HGB) by 4% to EUR 49.7 million (Q1 2023: EUR 47.8 million).

"Despite the increasingly difficult macroeconomic conditions, we have made a good start to the year and thus have a solid basis for fulfilling the targets we have set for 2024," comments Stefan Knoll, CEO and founder of Deutsche Familienversicherung.

Improved operating result and stable combined ratio

The operating result (Insurance Service Result) increased by 9.1% year-on-year to EUR 1.6 million (previous year: EUR 1.4 million). This underlines the strength of the insurance company. Insurance revenue grew by 1.5% to EUR 30.5 million (Q1 2023: EUR 30.0 million). The combined ratio remains stable at 95% in the first quarter of 2024 (Q1 2023: 95%).

Positive earnings trend

Despite the macroeconomic environment, which continues to be characterised by war and crisis, Deutsche Familienversicherung generated consolidated earnings before taxes of EUR 1.5 million in the first three months of 2024 and increased earnings by 19% compared to the same period of the previous year (Q1 2023: EUR 1.3 million). The solvency of Deutsche Familienversicherung remained stable in the first quarter of 2024 and continues to be well above the defined target range.