DFV Deutsche Familienversicherung AG

Investor Presentation • Nov 11, 2021

9M 2021 results

DFV Deutsche Familienversicherung AG FRANKFURT/MAIN | 11th of November 2021

Agenda & welcome

1. Welcome

Dr Stefan M Knoll

2. Financial results 9M 2021

Dr Karsten Paetzmann

3. Outlook 2021/2022 Dr Stefan M Knoll

Welcome

To the publication of the 9th quarterly figures since the IPO on 04.12.2018

• 1. Realisation of the reinsurance contract with Barmenia
• 1. New combined product as the basis for the global product
• 1. Market entry Austria
• 1. Undiminished sales power and better result
• 1. Finalisation of IT outsourcing
• 1. Implementation of VAIT structures
• 1. Establishment of a finance department

Welcome

Excellent products, highest innovative strength and industry pioneer

Dr Karsten Paetzmann CFO

9M 2021 snapshot

GWP (gross written premiums) growth and Opex: Change year-over-year Loss ratio: Insurance benefits (net) as percentage of net earned premiums Opex: IFRS expenses from insurance operations

Relentless growth momentum

Statement of comprehensive income

€m	9M 2020	9M 2021	Delta	2020
					1	22% GWP growth year-over-year demon
(GWP) Gross written premiums	83 5	1 101 7	+18 2	114 7		strates	the continued strength	of DFV's
(NEP) earned premiums Net	44 1	52 1	+8 0	61 9		business model.
from capital investments Income	2 -1	8 5	+9 7	0 9
Other revenue	0 1	0 8	+0 7	0 3
benefits Insurance	-27 0	-37 4	-10 4	-39 5
from Expenses insurance operations	-19 2	-19 8	-0 5	-30 2	2
Other expenses	-3 7	-4 1	-0 4	-3 9		The €0.1m profit before tax in 9M 2021 is an important step on DFV's route towards
Operating income	-6 9	0 1	+7 0	-10 6		profitability.
for leases Financing	0 0	0 0	+0 0	0 0		Profit before tax by quarters (€m):
expenses Profit before tax	-6 9	2 0 1	+7 0	-10 6		Q1 2021	Q2 2021	Q3 2021

-0.1 -0.8

Investments as a profit driver

Duration und share of sustainable investments: relate to the total portfolio volume at end of period Share of sustainable investments: green bonds, sustainability-linked bonds, sustainably investing ETFs, explicitly sustainable real estate assets

Source: Twitter account of Jörg Asmussen, CEO German Insurance Association (GDV)

Cost discipline as a profit driver

Summary and outlook

Continued strong GWP growth – 22% year-over-year

Imminent ramp-up of DFV's reinsurance business

Substantially improved investment result – strong progress in execution of repositioning plan

Measures to address the loss ratio development are being installed

Cost management initiative with positive momentum

Covid-19 related burdens are well manageable due to DFV's stable market position, the digital business model and strong balance sheet ratios

Planned group profit before tax for 2021 is adjusted to approx. €-2 million (from €-4 million)

3. Outlook 2021/2022

Dr Stefan M Knoll CEO

Outlook 2021/2022

We have achieved a lot and have many plans

• Further strong growth in new business
• Significant reduction of the loss planned for 2021
• Basis for profitability created
• Realisation of the reinsurance agreement

The DFV remains exciting – Let's talk about it

Overview
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