02 Mar 2015
FBD issued full year results for 2014 this week, showing a considerable turnaround in fortunes for the Composite General Insurer.
Although premium income increased by 3.6% to €367 Million, they suffered a dramatic operating loss of €4.7 Million, from an operating profit of €53 Million in 2013.
FBD are increasing premiums both on Commercial & Private Lines business, to try to recover profitability. Average Income on Commercial Business has tended to be between 5 and 10%, with good claims history.
The company expect to return to profitability again, provided they are not hit with any explicit events.
Please see below link to the documentation;
http://www.fbdgroup.com/media/FBDGroup/files/preliminary-results2014.pdf
