DFV Deutsche Familienversicherung AG · LSX:A41YH3
DFV Deutsche Familienversicherung — H1 2023 Earnings Presentation
13 slides from DFV Deutsche Familienversicherung's earnings presentation, 2023
Slide 1: DFV Deutsche Familienversicherung
DEUTSCHE > #CM D23 Familienversicherung
Slide 2: Financial results H1 2023
Financial results H1 2023 +8 % -7 % 95 % Insurance revenue Opex (Cost cutting) Combined ratio Insurance revenue und Opex: change year-over-year 2
Slide 3: Unchanged product/market approach
Financial results H1 2023 Unchanged product/market approach Product mix H1 2023 • Health remains the core product: (% of gross written premiums) • Unchanged focus on profitable products, in line with the core competencies of DFV. Reporting segment • Approx. two thirds of the new business stream Inwa
Slide 4: Stronger insurance service result (IFRS 17)
Financial results H1 2023 Stronger insurance service result (IFRS 17) Statement of comprehensive income €m H1 2022 H1 2023 Delta 1 Insurance revenue, including amounts from the release of the CSM. In this presentation, Insurance revenue 60.3 64.9 +4.5 the Inwards Reinsurance business is recog- 1 nis
Slide 5: Volatile net financial result (IFRS 9) – profit guidance for 2023 is confirmed
Financial results H1 2023 Volatile net financial result (IFRS 9) – profit guidance for 2023 is confirmed Statement of comprehensive income €m H1 2022 H1 2023 Delta 1 Significant reduction of the net investment income under volatile conditions on the Insurance service result 1.8 2.8 +0.9 capital mark
Slide 6: Reporting segment Health
Financial results H1 2023 Reporting segment Health Insurance revenue Claims ratio • A recently moderate growth rate, in line with (in €m) (net; in %) DFV’s strategy • Continued concentration on our specialised 52.1 +5 % 54.5 68.9% • core business. New business inflow via established distribu- 67.9%
Slide 7: Reporting segment Property/Casualty
Financial results H1 2023 Reporting segment Property/Casualty Insurance revenue Claims ratio • A continuously strong growth rate (in €m) (net; in %) • Growth is driven by Pet, distributed mainly online. +25 % • • Strengthened cross- and up-selling measures. Continued favourable claims development. 2
Slide 8: Volatility of investments
Financial results H1 2023 Volatility of investments Volatility of bonds • Volatility of bond markets Outbreak (Indexed 31.12.2019 = 100) Beginning • DFV’s dominant asset class. 400 Covid-19 Ukraine pandemic war • In April 2023 the bond markets were shaken by Bonds global Globale Rentenvolatilität no
Slide 9: Value of investments
Financial results H1 2023 Value of investments Value development compared • Stabilised investment portfolio (Indexed 01.01.2022 = 100) • DFV’s investment portfolio dominated by fixed Jan 2022 Jun 2022 Dec 2022 Jun 2023 income; equities in the Sicherungsvermögen portfolio are nearly nil. 110 • De-ris
Slide 10: Movements in the financial position reflect the continued growth
Financial results H1 2023 Movements in the financial position reflect the continued growth Consolidated balance sheet €m 2022 H1 2023 Delta 1 Growth of business volume drives both the insurance contract liabilities and the Cash and cash equivalents 11.5 9.8 -1.6 corresponding investment portfolio. I
Slide 11: ESG rating confirms DFV's sustainability engagement
Financial results H1 2023 ESG rating confirms DFV’s sustainability engagement Overall score Company Assessment • Initial ESG rating in 2023 (Source: 2023 Company Assessment by ESG Book) • ESG Book, founded by Arabesque in 2018 and an investment of inter alia Allianz X since 2022. ESG score Overall g
Slide 12: Key messages
Financial results H1 2023 Key messages 1 DFV’s transition to a sustainable profitable business model is on track 2 H1 2023 operating profit up 52 % y-o-y – cost discipline remains on the agenda 3 Despite a volatile investment income: FY 2023 profit guidance of €3 to 5 million is confirmed 12
Slide 13: Thank you
Thank you for your attention
DFV Deutsche Familienversicherung — H1 2023 Earnings Presentation on 6ix