Deutsche Familienversicherung exceeds annual targets for 2019

  • Strong new business with over 100,000 new contracts (+ 81.0%)
  • Gross premiums written increased significantly by 37% to around EUR 91 million
  • Target of EUR 100 million existing premium volume exceeded
  • Pre-tax loss of around EUR 4.5 million significantly lower than expected
  • Change in the Management Board

DFV Deutsche Familienversicherung AG ("DFV", "Deutsche Familienversicherung"), a fast-growing and European leader in InsurTech, achieved a significantly lower loss than expected for the 2019 financial year following a very good business performance. According to preliminary IFRS figures, the loss before taxes amounts to around EUR 4.5 million and is thus significantly below the forecast target range of EUR 9-11 million.

"We achieved our ambitious targets. Thanks to the great commitment of our employees, we were able to handle the strong business growth with relatively low staff deployment", commented Dr. Stefan Knoll, CEO and founder of Deutsche Familienversicherung.

With 100,034 contracts, new business grew significantly by 81.0% compared to the same period of the previous year (2018: 55,263 new contracts). The total newly generated premium volume rose by 69.9% to EUR 29.9 million (2018: EUR 17.6 million).

The existing premium volume thus increased by 34% to around EUR 101 million as at 31 December 2019 (31 December 2018: EUR 75.7 million). Gross premiums written also grew significantly by 37% to around EUR 91 million.

In agreement with the Supervisory Board, Michael Morgenstern resigned from his position as member of the Management Board as at 31 December 2019 for personal reasons. He will continue his activities in the Finance department until the end of March 2020. The CEO, Dr. Stefan Knoll, has assumed responsibility for the finance division on an interim basis.

About DFV Deutsche Familienversicherung AG

DFV Deutsche Familienversicherung AG (ISIN DE000A0KPM74) is a fast-growing InsurTech company. As a digital insurance company, DFV covers the entire value chain with its own products. The goal of the company is to offer insurance products that people really need and understand immediately ("Simple. Reasonable"). DFV offers its customers multi-award-winning supplementary health insurance (dental, health, supplementary nursing care insurance) as well as accident and property insurance. On the basis of the ultra-modern and scalable IT system developed in-house, the company is setting new standards in the insurance industry with consistently digital product designs and the option of taking out policies via digital language assistants.

Deutsche Familienversicherung exceeds annual targets for 2019 [PDF]

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