Entering the insurance business; Approximately 35-40 million euros
In the first nine months of 2021, gross insurance premiums increased by 22 percent.
Adjusted Annual Targets 2021 ፡ Significantly reduce pre-tax loss to 2 2 million (previously ወደ 4 million)
DFV Deutsche Familienversicherung AG (“DFV”, “Deutsche Familienversicherung”), a digital insurance company and the leading insurTech in Europe, continues to grow.
As announced, the company is responsible for re-insuring the CareFlex Chemi (group) combination. Barmenia Krankenversicherung AG, Wuppertal’s main insurance shares with a size of around 35-40 million euros, DFV will be taken to DFV reinsurance agreement with retroactive effect 1 June 2021. The development of the Deutsche Familienversicherung, which is already around. By 2021, 20 percent of the major insurance business will grow rapidly again. Active re-insurance business will increase DFV premium income by an additional € 20 million by 2021.
22% growth in primary insurance
In addition, despite the ongoing Covide 19 epidemic, the company grew by more than 12.5% in the first nine months of the 2021 fiscal year (9M 2021: EUR 125 million) on existing premiums in premium insurance. In the first nine months of 2021 (9M 2020: EUR 83.5 million) increased by 21.8% to 21.8% to 101.7 million euros. The additional health insurance premium increased by 19.4 percent, while property insurance growth was up 52.9 percent. This development is in line with the Group strategy to increase the duplication of DFV product portfolio to expand the company’s base.
DFV is continuously developing its product portfolio, which, among other things, will add value to each contract. With complementary health insurance, the average premium in the portfolio has increased from 250 250 (9M 2020) to 27 279 and property insurance around (94 (9M 2020) to 5 115.
“Despite the ongoing COVID 19 epidemic, DFV’s business development is exciting. For the first time since 2012, we have re-insured, introduced new products, passed several Stuttung Warrant tests, and expanded to other European countries,” said Dr. Stefan Nol, Deutsche Family Development. He is the CEO and Founder.
Post-tax net income increased to 1.1.1 million (9M 2020: EUR -4.7 million) in the first nine months of 2021. A pre-tax net profit of በትንሹ 0.1 million (9M 2020 ፡ 6.9 million) represents a crucial step towards profitability. For these major drivers, 5 8.5 million (9M 2020: EUR -1.2 million) is the key to reducing investment costs, operating costs (OPEC) and lower distribution costs. The steps taken to increase professional investment management and expenditure discipline have proved to be important profit drivers by 2021.
DFV reported a 71.8% increase in claims in the first nine months of 2021 (2020 ፡ 63.0%). However, the company will ensure a long-term target corridor of up to 70%. The combined ratio improved by 3% to 103.0% (9M 2020: 106.0%), as operating costs increased slightly despite a strong new business.
DFV-HaftpflichtSchutz rated “excellent” in all categories
DFV Insurance products have once again achieved great results. Now in the test 10/2021, Steftung Warrantist rated the insurance company’s tariff for both “basic coverage and total coverage” and “extended coverage” as “excellent” (0.6). This is one of the 363 liability insurance policies tested by Stiftung Warentest Finanztest.
DFV has previously won numerous awards in various fields and has excelled in its products. A.D. In 2021, it received several certifications, including additional dental insurance. In April, the DFV-ZahnSchutz tariff was also rated “Stiftung Warentest” (0.5) and won the test.
Successful global networking and expansion
Both Austrian business models were successfully launched at the end of June with the sale of animal health insurance and the launch of the new DFV-KombiSchutz product.
In addition, in the first nine months of 2021, Deutsche Family Facilitation has successfully completed a number of partnerships with key partners to accelerate its growth. These include banks and companies with remarkable sales access, such as Hamburger Sparkasse, Lidl and Volkswagen Bank GmbH.
Outlook 2021 ፡ Significantly reduced loss
The new partnership, which is expected to start in the fourth quarter of 2021, will be extended to 2022, with DFV’s sales operations in the main insurance business. The new primary insurance business for 2021 is currently projected at around 24 million euros. Overall, Deutsche Family Facility estimates that pre-tax losses by 2021 are projected to be significantly lower than 21 4 million by 2021, with an estimated ሚሊዮን 2 million.
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About DFV Deutsche Familienversicherung AG
DFV Deutsche Familienversicherung AG (ISIN DE000A0KPM74) is a fast-growing insurance company. As a digital insurance company, DFV covers the entire value chain on its own products. The purpose of the company is to provide insurance products that people really want and understand immediately (“simple. Sensible”). DFV offers its clients a wide range of award-winning additional health insurance (dental, health, additional long-term care insurance) as well as accident and property insurance. Based on a state-of-the-art and scalable IT system, the company is setting new standards in the insurance industry through digital product design and digital voice assistants.