Corporate News

NOT FOR DISTRIBUTION, PUBLICATION OR TRANSMISSION, DIRECTLY OR INDIRECTLY, IN ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (COLLECTIVELY, "UNITED STATES") OR TO ANY U.S. PERSON (AS DEFINED BELOW), CANADA, AUSTRALIA OR JAPAN OR ANY OTHER COUNTRY IN WHICH SUCH PUBLICATION MAY BE UNLAWFUL OR IN WHICH THE OFFERING OF SECURITIES IS SUBJECT TO REGULATORY RESTRICTIONS. THERE ARE OTHER RESTRICTIONS. PLEASE SEE THE IMPORTANT NOTE AT THE END OF THIS PUBLICATION.

DFV Deutsche Familienversicherung successfully places capital increase
 

- 1,326,160 New Shares placed at a price of EUR 24.40 each

- Gross proceeds of around EUR 32.35 million

- Oversubscription of the capital increase illustrates high investor interest

- Further development into a digital full-service provider of insurance

- Positive outlook 2020: Target of 100,000 new contracts confirmed

Frankfurt am Main, 7 July 2020 - DFV Deutsche Familienversicherung AG ("DFV", "Deutsche Familienversicherung"), a fast-growing and leading digital insurance company in Europe, has placed a total of 1,326,160 new no-par value bearer shares ("New Shares") at a price of EUR 24.40 per share with institutional investors by way of a private placement in the course of the cash capital increase announced yesterday, making partial use of the authorised capital and excluding shareholders' subscription rights. The capital increase was significantly oversubscribed. The company's share capital increases from EUR 26,523,240.00 by EUR 2,652,320.00 or just under 10.0% to EUR 29,175,560.00. The free float of the DFV share thus increases from the current 12.28% to approx. 21.1%. The company will receive gross proceeds of around EUR 32.35 million from the capital increase.

"I would like to thank all investors who have placed their trust in us. The successful capital increase shows that the high scalability of our business model and our growth potential in the digital insurance market continues to be recognised. The successful stock market debut of the American InsurTech Lemonade also illustrates the high upside potential for our share," commented Dr. Stefan Knoll, Chairman of the Management Board and founder of Deutsche Familienversicherung.

The expected net proceeds from the capital increase are to be used by the company to continue its current growth strategy, including the establishment of new risk carriers and accordingly the establishment of a health insurer and a property/casualty insurer as well as the development of new products. These measures are the basic prerequisites for the expansion of the product portfolio in the field of health insurance and the resulting increased market potential. Within the scope of this strategy the foundation of a life insurer is to follow in 2021. With the new risk carriers the Frankfurt-based company will start to build up a Group structure and thus leave the role of a start-up.

The fundamental target of the strategy is to accelerate the growth course taken after it becomes apparent that the 100,000 new contracts will be reached again in 2020.

The new shares from the capital increase are expected to be included in the existing listing in the Prime Standard of the Frankfurt Stock Exchange without a prospectus on July 8.

MainFirst Bank AG acted as Sole Global Coordinator and Sole Bookrunner for the private placement.

Contact
Lutz Kiesewetter
Head of Corporate Communications & Investor Relations
Tel.: 396
e-mail:

About DFV Deutsche Familienversicherung AG

DFV Deutsche Familienversicherung AG (ISIN DE000A0KPM74) is a fast-growing insurtech company. As a digital insurance company, DFV covers the entire value chain with its own products. The aim of the company is to offer insurance products that people really need and understand immediately ("Simple & Sensible"). DFV offers its customers award-winning supplementary health insurance (dental, health and long-term care insurance) as well as accident and property insurance policies. Based on its ultra-modern and scalable IT system developed in-house, the company is setting new standards in the insurance industry with consistently digital product designs and the option of taking out policies via digital language assistants.

Important note

This announcement constitutes neither an offer nor a solicitation to purchase or subscribe for securities of the Company.
This announcement is not intended for distribution, directly or indirectly, in or into the United States or within the United States (including its territories and possessions, any state or District of Columbia) and may not be distributed to U.S. Persons or publications with a general circulation in the United States. This announcement does not constitute or form part of any offer to sell or the solicitation of an offer to purchase or subscribe for any securities in the United States. The New Shares are not and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration under the Securities Act or an exemption from registration under the Securities Act. The Company does not intend to conduct a public offering of New Shares in the United States.
Accordingly, save for certain limited exceptions at the discretion of the Company, the New Shares are being offered and sold by the Company only outside the United States in "offshore transactions" (as defined in and pursuant to Regulation S) under the Securities Act to non-U.S.Persons. The Company has not been, and will not be, registered under the Investment Company Act, and subscribers for the New Shares will not be entitled to the benefits of the Investment Company Act. The Company has not undertaken an analysis to determine whether or not the Company will be treated as a "passive foreign investment company" (as such term is defined in the Internal Revenue Code of 1986) (a "PFIC") for U.S. federal income tax purposes for the current year or in the future. The Company may be considered a PFIC if an assessment were to be undertaken, for the current year and in the future, and any such characterisation could result in adverse US federal income tax consequences for any U.S. taxpayer.
The New Shares referred to in this announcement will not be offered or sold in Canada, Australia or Japan, or to or for the account of persons resident in Canada, Australia or Japan. No action has been taken to offer, acquire or distribute the New Shares in any jurisdiction where this is not permitted.
This release contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the Company's management and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied. Actual results, results or events could differ materially from those described herein due to factors affecting the Company, including, but not limited to, changes in the general economic environment or competitive situation, capital market risks, foreign exchange rate fluctuations and competition from other companies, and changes in foreign or domestic laws or regulations, including, but not limited to, the tax environment. The Company assumes no obligation to update any forward-looking statements.