DFV Deutsche Familienversicherung : Q1 Results 2024
DFV.DE
Financial results Q1 2024
DFV Deutsche Familienversicherung AG
23 Mai 2024
Welcome
2
Financial results Q1 2024
+2% 95% €1.5M
Insurance revenue
Combined ratio
Profit before tax
Insurance revenue: change year-over-year
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Financial results Q1 2024
Robust combined ratio of 95 % and enhanced operating profitability
Statement of comprehensive income
€m
Q1 2023
Q1 2024
Delta
Insurance revenue
30.0
30.5
+0.5
1
Insurance service expenses
-17.8
-18.3
-0.5
Acquisition cost
-4.4
-4.6
-0.2
Other insurance expenses
-3.6
-4.2
-0.6
2
Net expenses from reinsurance contracts held
-2.9
-1.9
+1.0
3
Insurance service result
1.4
1.6
+0.1
4
Claims ratio
65.3%
63.9%
Acquisition expense ratio
16.1%
16.0%
Admin expense ratio
13.3%
14.7%
Combined ratio
94.7%
94.5%
CSM: Contractual service margin, an item representing the unearned profit of a group of insurance contracts to be recognised as services are provided to policyholders
Adoption of IFRS 17/9 in both reporting periods; simplified
Combined ratio looks different under IFRS 17
Insurance service result
= 1 -
Insurance revenue - Net expenses from reinsurance contracts held
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Financial results Q1 2024
2024 profit guidance is confirmed
Statement of comprehensive income
€m
Q1 2023
Q1 2024
Delta
Insurance service result
1.4
1.6
+0.1
Net investment income
0.6
0.5
-0.1
Net insurance finance expenses
0.0
0.6
+0.5
Net financial result
0.7
1.1
+0.4
1
Net insurance and investment result
2.1
2.6
+0.5
Other result
-0.8
-1.1
-0.3
2
Profit before tax
1.3
1.5
+0.2
3
VFA: Variable fee approach, the compulsory measurement model under IFRS 17 for long-term participating business
GMM: General measurement model, the default measurement model under IFRS 17 for long-termnon-participating business
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Adoption of IFRS 17/9 in both reporting periods; simplified
Financial results Q1 2024
Key messages
Focus on profitability
Sustainable growth
Technical excellence
Operational efficiency
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Financial results Q1 2024
Our next investor relations activities in 2024
26 Juni
AGM
12 September
H1 2024 & Capital Markets Day
23 September
Berenberg/Goldman Sachs German Corporate Conference
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Disclaimer
DFV Deutsche Familienversicherung AG published this content on 23 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2024 08:28:03 UTC.