- Premium income grows by 35% to € 155 million
- Joint venture founded in the vicinity of the Technical University of Munich
- Changes on the Executive Board
- Pre-tax consolidated result 2021 of € -0.8 million (expected: € -4 million, adjusted to € -2 million)
DFV Deutsche Familienversicherung AG ("DFV", "Deutsche Familienversicherung"), a digital insurer and leading InsurTech company in Europe, continues to grow despite the ongoing Corona pandemic.
Growth in premium income of 35%
Gross written premiums grew by 35% to € 155 million, including the new reinsurance business taken up in 2021. In primary insurance, the volume of new business (regular premiums for one year) was below the target at € 23 million. However, the entry into inwards reinsurance with new business of € 18 million in the first year more than compensated for this. The total volume of new business increased by € 40 million to € 161 million at the end of the 2021 financial year, which corresponds to an increase of 29% compared to the premium volume of € 125 million at the end of 2020.
"Despite the ongoing Corona pandemic, 2021 was a record year, because DFV has never before grown so strongly in a financial year. This proves that our digital business model is sustainable and crisis-resistant," comments Dr Stefan Knoll, Chairman of the Board and founder of Deutsche Familienversicherung.
Founding of a joint venture in the vicinity of TUM
Together with STTech GmbH, a start-up from the environment of the Technical University of Munich (TUM), Deutsche Familienversicherung has founded a joint venture that uses the latest technologies for the development of software-based automation in claims management. With the joint venture, the company is pursuing the goal of further increasing the degree of automation, especially in its own claims management processes. Another important aspect is the development of new digital business areas, such as blockchain-based insurance products. The two founding companies bring top expertise from the areas of insurance, artificial intelligence, software and IT architecture design, automation and deep learning to the joint venture.
Changes on the Executive Board
The Supervisory Board and the Chief Sales Officer (CSO) Stephan Schinnenburg have agreed that Mr Schinnenburg will step down from the company's Board of Management on 28 February 2022. The Chairman of the Supervisory Board and the Chairman of the Board of Management would like to thank Stephan Schinnenburg for his work and commitment to Deutsche Familienversicherung. Dr Stefan Knoll will take over as CSO until a successor is appointed.
2021 results significantly better than planned
After Deutsche Familienversicherung had planned a pre-tax consolidated result of €-4 million for 2021 and most recently adjusted the expectation to €-2 million, the company now expects a pre-tax consolidated result of €-0.8 million. The main drivers for the even more positive development are the significantly improved investment result, the continued successful implementation of measures to reduce operating expenses (Opex) and lower sales expenses. For 2022, the company is planning another double-digit increase in premium volume.
Deutsche Familienversicherung grows by 35% with results above expectations [PDF]
Your Contact
Lutz Kiesewetter
Head of Corporate Communication & Investor Relations
Tel.: +49 69 74 30 46 396
E-Mail: lutz.kiesewetter@deutsche-familienversicherung.de
About DFV Deutsche Familienversicherung AG
DFV Deutsche Familienversicherung AG (ISIN DE000A2NBVD5) is a fast-growing InsurTech company. As a digital insurance company, DFV covers the entire value chain with its own products. The company's goal is to offer insurance products that people really need and understand immediately ("Simple. Sensible."). DFV offers its customers multiple award-winning supplementary health insurance (dental, health, supplementary long-term care insurance) as well as accident and property insurance. Based on the state-of-the-art and scalable IT system developed in-house, the company is setting new standards in the insurance industry with digital product designs throughout as well as the option of taking out policies via digital voice assistants.