Q1 Results 2023

Financial results Q1 2023

DFV Deutsche Familienversicherung AG

17 Mai 2023

Welcome

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Financial results Q1 2023

New group reporting from 2023

Group reporting with a new look

DFV has adopted the new standards IFRS 17 'Insurance contracts' and IFRS 9 'Financial instruments' in January 2023.

New measurement models, new presentation and extended disclosure requirements.

For conceptual guidance also refer to the information supporting

DFV's 2022 group result during the conference on 30 March 2023.

DFV continues to apply HGB accounting for internal purposes, especially directed towards the aspired ability to pay dividends.

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Financial results Q1 2023

+5 % +39 % 95 %

Financial results Q1 2023

Insurance service result as a new performance indicator

1. New line iteminsurance revenue, also containing the unlocking of the contractual service margin (CSM) which contains future profits of the contracts (GMM and VFA).
2. Increased volume of amortisation acquisi- tion cost, reflecting acquisition cost from new business in previous periods (PAA).
3. Lower inflow fromreinsurers, due to enhanced profitability of the gross business in Q1 2023 (GMM).
4. IFRS 17 insurance service result, reflecting the increased operating profit compared to Q1 2022.
5. Favourable development ofoperating ratios compared to Q1 2022 (net):
6. • Stable claims ratio;
   • Increased acquisition expense ratio due to a high volume of new business inflow in previous periods;
   • Optimised admin expense ratio;