Brief: DFV Deutsche Familienversicherung Group EBIT Down At EUR -5.6 Mln

DFV Deutsche Familienversicherung AG

14/05/2020 06:13

May 14 (Reuters) - DFV DEUTSCHE FAMILIENVERSICHERUNG AG
 DFV.DE :
    * NO SIGNIFICANT IMPACTS OF COVID-19 ON DEVELOPMENT OF
BUSINESS
OPERATIONS IN Q1
    * Q1 NUMBER OF NEW CONTRACTS REACHES 27,718, EXCEEDING
EXPECTATIONS
    * Q1 EXISTING PREMIUM GROWTH UP BY 7.0%, TO EUR 108.3
MILLION
    * GROUP EBIT DECLINED TO EUR -5.6 MILLION AFTER FIRST THREE
MONTHS
(Q1 2019: EUR -1.0 MILLION)
    * Q1 RESULT AFTER TAXES CAME TO EUR -3.8 MILLION (Q1 2019:
EUR
-0.2 MILLION)
    * SOLVENCY RATIO OF DEUTSCHE FAMILIENVERSICHERUNG DECLINED
TO 206%
IN Q1 DUE TO REFERENCE DATE FACTORS (DECEMBER 31, 2019: 264%)
    * FOR 2020 DESPITE EXISTING UNCERTAINTIES, DFV NEVERTHELESS
AFFIRMS ITS SALES TARGETS FOR TIME BEING
    * FOR 2020 AS A WHOLE, COMPANY PLANS TO GENERATE 100,000 NEW
POLICIES, TO RAISE VOLUME OF EXISTING POLICIES BY EUR 25 TO 30
MILLION AND TO INCREASE GROSS PREMIUMS WRITTEN BY AT LEAST 30%
    * OUTLOOK 2020: ANTICIPATES A PRE-TAX LOSS (EBIT) OF EUR 9
TO 11
MILLION

Source text for Eikon:  ID:nEQ4S0XtZa 
Further company coverage:  DFV.DE 

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