DFV Deutsche Familienversicherung AG · LSX:A41YH3
DFV Deutsche Familienversicherung — Q1 2021 Earnings Presentation
22 slides from DFV Deutsche Familienversicherung's earnings presentation, May 12, 2021
Slide 1: Financial results Q1 2021
Financial results Q1 2021 DFV Deutsche Familienversicherung AG FRANKFURT/MAIN | 12 May 2021
Slide 2: Agenda
Agenda 1. Welcome Dr Stefan M Knoll 2. Financial results Q1 2021 Dr Karsten Paetzmann 3. Outlook 2021 Dr Stefan M Knoll 2
Slide 3: Welcome
Welcome to the publication of the 9th quarterly figures since the IPO on 04.12.2018 In every quarterly reporting we have confirmed the fulfilment of the announced targets. This also includes today's presentation of the Q1 results. After the forced exit from the CareFlex Chemie project, we can
Slide 4: New business from 2018 until today
New business from 2018 until today We keep our promises 120000 35 29.9 29.3 30.0 30 100000 100,034 100,000 In 2018, we announced our intention 90,389 25 to double our sales success by 80000 doubling our sales spend. 20 In 2019 and 2020, we achieved our 60000 55,227 17.6 sales targets. 15 In 20
Slide 5: Business success despite Corona
Business success despite Corona Deutsche Familienversicherung defies Corona The figures presented below are above the planned 9% market share in pet new business in 2020: time targets. 9% Productivity as a whole – i.e. in all departments – corresponds to the "pre-Corona time" despite a 0% roughly
Slide 6: 2. Financial results Q1 2021
2. Financial results Q1 2021 Dr Karsten Paetzmann CFO 6
Slide 7: Financial performance – Q1 2021 snapshot
Financial results Q1 2021 Financial performance – Q1 2021 snapshot GWP growth Loss ratio +25% 63.2% [FY 2020: +26%] [FY 2020: 63.9%] Opex Profit before tax -4% €-0.1m [FY 2020: +19%] [Q1 2020: €-5.6m] GWP (gross written premiums) growth and Opex: Change year-over-year Loss ratio: Insurance benefits
Slide 8: Financial performance – overview
Financial results Q1 2021 Financial performance – overview Statement of comprehensive income €m Q1 2020 Q1 2021 Delta in % 2019 2020 Delta in % Gross written premiums (GWP) 26.4 33.0 +6.6 +25% 90.9 114.7 +23.8 +26% Net earned premiums (NEP) 14.0 17.0 +3.0 22% 54.4 61.9 +7.5 14% Income from capital i
Slide 9: Financial performance – movements year-over-year
Financial results Q1 2021 Financial performance – movements year-over-year €m Profit before tax Change Increase in Reduction in Increase in income Other Profit before tax Q1 2020 in NEP insurance expenses from capital movements Q1 2021 benefits investments 9 NEP: Net earned premiums
Slide 10: Financial position
Financial results Q1 2021 Financial position Consolidated balance sheet €m Q4 2020 Q1 2021 Delta in % Implementation of a. separate SAAs for the ‘security assets’ Intangible assets 8.8 8.5 -0.4 -4% and ‘free assets’ investment portfolios; Rights of use for property pursuant to IFRS 16 1.4 1.2 -0.2 -
Slide 11: Summary and outlook
Financial results Q1 2021 Summary and outlook GWP in the first quarter considerably increased – 25% growth year-over-year Favourable loss ratios for both the health and non-life Key earnings drivers business for the future are set Income from investments substantially improved – to create value for
Slide 12: 3. Outlook 2021
3. Outlook 2021 Dr Stefan M Knoll CEO 12
Slide 13: And the recognition does not cease
And the recognition does not cease Supporter, Innovator, Test Winner, Broker Champion In 2021, we have already received 14 seals and acquired 4. In 2020 we received 17 seals. January 2021 February 2021 March 2021 March 2021 For more than 10 years, DFV has acquired more than 140 seals. They are an ex
Slide 14: Digitalisation works – customer side
Digitalisation works … on the customer side Over 550,000 contracts promise huge potential for cross-selling at low sales costs. Over 71,000 user IOS: 40,000 Android: 31,000 That is why a sales call centre is being As at 30.04.2021 set up. Highly rated app App Store: 4.9 stars That is why a marke
Slide 15: Digitalisation works – service point of view
Digitalisation works ... from a service point of view Since 01.04.2021, all customers of the DFV-TierkrankenSchutz have the option of free and digital video consultations with the online veterinarian FirstVet. FirstVet is a young company founded in Stockholm. It operates in six European countries.
Slide 16: Digitalisation works – process side
Digitalisation works … on the process side Documentation input by channel The figures show it: our app is 45,00% 42% gaining in importance and is replacing the regular inbox. 40,00% 37% 36% In Q1 2020, 42% of documents 35,00% 34% were still submitted by post. In Q1 2021, it was 13 percentage points
Slide 17: German InsurTechs at a glance
German InsurTechs at a glance We are leading the InsurTech in Germany Gross written premiums in € thousands FY 2020 114,700 We are the market leader from Frankfurt/Main in the German InsurTech market without DFV in Germany: € 99,8m InsurTech market in 2020. In underwriting business we recorded gross
Slide 18: German InsurTechs in comparison
German InsurTechs in comparison Our calculated loss is balanced by exceptional income Gross written premiums and result in € thousands FY 2020 Almost all InsurTechs in 114,700 Germany made losses in 2020. While at DFV the planned loss falls short of gross written premiums by a factor of 11, 40,900 l
Slide 19: What else needs to be said:
What else needs to be said: We confirm: Market entry in Austria by 30.06.2021 New combined product as of 30.06.2021 Contract negotiations commenced with Barmenia for the conclusion of a reinsurance contract First expert report on the examination of insurance products by type of life with reg
Slide 20: Summary
Summary 1. Strong first quarter 2. Sales are on target 3. All annual targets will be achieved 4. Leading InsurTech in Germany 20
Slide 21: Thank you for your attention!
Thank you for your attention! Our next IR dates: 19/05 Annual General Meeting 30/06 Capital Markets Day 12/08 Publication half-yearly financial report Dr Stefan M. Knoll Dr Karsten Paetzmann CEO CFO Your contact: Lutz Kiesewetter Head of IR & PR +49 (0)69 / 74 30 46 396 lutz.kiesewetter@deutsche-fam
Slide 22: DEUTSCHE €>
DEUTSCHE €> Familienversicherung
DFV Deutsche Familienversicherung — Q1 2021 Earnings Presentation on 6ix