March 19, 2020 / 7:18 AM / 14 days ago

BRIEF-Deutsche Familienversicherung Expects To End 2021 With Positive Result Despite High Growth Investments

March 19 (Reuters) - DFV Deutsche Familienversicherung AG:

* 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: Further company coverage: (Gdansk Newsroom)

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