Deutsche Familienversicherung (DFV) has announced it will reinsure the CareFlex Chemie group.
Primary insurance shares of Barmenia Krankenversicherung will be taken over by DFV with a reinsurance agreement of €35-40 million with retroactive effect from 1 June 2021.
This move is expected to further accelerate the growth of DFV, which is already around 20% in the core primary insurance business in 2021.
The active reinsurance business will increase DFV’s premium income by an additional €20 million this year.
From 2022 onwards, premium income of around €35-40 million per year can be expected from the reinsurance agreement.
In DFV’s sales activities in the core business of primary insurance, a new cooperation, which was expected to start in the fourth quarter of 2021, has been postponed until 2022. New primary insurance business for 2021 is now forecasted at around €24 million.
Overall, DFV expects that the pre-tax consolidated loss for 2021, which was planned at €4 million, will be significantly lower at an estimated €2 million.
