Q4 2021 DFV Deutsche Familienversicherung AG Earnings Call Transcript
Ladies and gentlemen, a very warm welcome on behalf of the Board of Deutsche Familienversicherung. And to thank you for your interest, we will present the annual figures in approved manner. I will start with a short introduction, and then I will hand over to Dr. Karsten Paetzman, the CFO of Deutsche Familienversicherung.
The year 2021, business -- the business year 2021 was a successful one, even if it did not look like it at first. 35% growth, market entry in Austria, strong growth in property insurance, and entry into active reinsurance characterized the year 2021. Anticipatory distribution cost continue to characterize the business model and leads to a loss.
Nevertheless, we have identified and realized important levels of structural profitability. With a consolidated pre-tax result of minus EUR0.8 million, the breakeven point is within sight. In the current year, we want to achieve the balancing act of growing at above-average rate on the one hand and achieving profitability on a permanent basis after 2017 on the other. To
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