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FBD results

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.

An increase in both motor claims and the worst weather related claims experienced by the group in its history, contributed to the losses. 

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;