FBD Holdings PLC Trading Update (7418W)

TIDMFBH

RNS Number : 7418W

FBD Holdings PLC

29 April 2016

FBD Holdings plc

Chairman's Address to the Annual General Meeting

29 April 2016

In the course of his address to shareholders at the Annual General Meeting today, the Chairman, Mr. Michael Berkery, will make the following statement on current trading:

"As expected, the hardening of insurance rates has continued into 2016. This remains essential, as we believe the industry as a whole continues to be loss making. FBD is focused on maintaining underwriting discipline and prioritising a return to profitability.

The Group's weather loss experience since the start of the year has not been severe. While the injury claims environment remains uncertain, FBD welcomes the increased attention and debate this is receiving at a national level. We continue to seek structural reforms to tackle the injury claims inflation prevalent in Ireland. These should address the impact court awards are having on the affordability of insurance for farmers, businesses and other consumers.

The Group's low risk investment allocation largely shielded FBD from the volatility experienced in markets since the start of the year.

We continue to execute our simplified strategy and remain on track for recovery. We have an ambition to show a combined ratio of less than 100% in quarter four of 2016."

ENDS

 
  Enquiries                                Telephone 
 
 
    FBD Holdings plc 
  Fiona Muldoon, Group Chief Executive     +353 1 409 3208 
 
  Peter Jackson, Head of Investor 
   Relations 
   Kathryn Speedie, Communications 
   Officer 
 
 
 
 
    Powerscourt 
  Rory Godson/Jack Hickey                  +353 1 669 4633

About FBD Holdings plc

The FBD Group was established in the 1960s and is one of Ireland's largest property and casualty insurers looking after the insurance needs of farmers, private individuals and business owners.

Forward Looking Statements

Some statements in this announcement are forward-looking. They represent expectations for the Group's business, and involve risks and uncertainties. These forward-looking statements are based on current expectations and projections about future events. The Group believes that current expectations and assumptions with respect to these forward-looking statements are reasonable. However, because they involve known and unknown risks, uncertainties and other factors, which are in some cases beyond the Group's control, actual results or performance may differ materially from those expressed or implied by such forward-looking statements.

The following details relate to FBD's ordinary shares of EUR0.60 each which are publicly traded:

 
  Listing             Irish Stock Exchange    UK Listing Authority 
  Listing Category    Premium                 Premium (Equity) 
  Trading Venue       Irish Stock Exchange    London Stock Exchange 
  Market              Main Securities         Main Market 
                       Market 
  ISIN                IE0003290289            IE0003290289 
  Ticker              FBD.I or EG7.IR         FBH.L 
 
 
 
   FBD Holdings plc    FBD House, Bluebell, Dublin 12

Registered in Dublin, Ireland Registered Number 135882

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 29, 2016 02:00 ET (06:00 GMT)

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