Brief: Deutsche Familienversicherung Expects To End 2021 With Positive Result Despite High Growth Investments

DFV Deutsche Familienversicherung AG

19/03/2020 07:18

March 19 (Reuters) - DFV Deutsche Familienversicherung AG  DFV.DE :
    * DGAP-NEWS: DEUTSCHE FAMILIENVERSICHERUNG TARGETS 100,000 NEW CONTRACTS FOR 2020 AND AN
INCREASE
OF GROSS PREMIUMS WRITTEN BY 30%
    * FY GROSS PREMIUMS WRITTEN INCREASE SIGNIFICANTLY BY 37% TO APPROX. 91 MILLION EUROS
    * FY EBIT DECREASED TO -5.2 MILLION EUROS (2018: -4.1 MILLION EUROS)
    * PREDICTING LOSS BEFORE TAX (EBIT) OF BETWEEN 9 AND 11 MILLION EUROS FOR FINANCIAL YEAR
2020
    * IN 2019 COMBINED RATIO WAS 102.6% (2018: 98.0%) DUE TO INCREASE IN SALES EXPENDITURE
    * AIMING TO ACQUIRE ABOUT 100,000 NEW CUSTOMERS IN BOTH 2020 AND 2021
    * IT IS CURRENTLY NOT POSSIBLE TO PREDICT EFFECT THAT CORONAVIRUS WILL HAVE ON ON DFV'S
BUSINESS
    * EXPECTS TO END 2021 WITH A POSITIVE RESULT DESPITE HIGH GROWTH INVESTMENTS

Source text for Eikon:  ID:nEQ3sgFX3a 
Further company coverage:  DFV.DE 

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