FBD Holdings PLC Trading Statement (0673N)
May 04 2018 - 2:00AM
UK Regulatory
TIDMFBH
RNS Number : 0673N
FBD Holdings PLC
04 May 2018
FBD Holdings plc
Chairman's Address to the Annual General Meeting
4(th) May 2018
In the course of his address to shareholders at the Annual
General Meeting today, the Chairman, Mr. Liam Herlihy, will make
the following statement on current trading:
"FBD's 2018 trading performance to date has been solid, although
we have been impacted by the poor winter weather. In particular,
Storm Emma is expected to have an overall net cost (after
reinstatement premia) of marginally less than EUR7m, having
resulted in over 1,200 claims to date, predominately in the East
and South of the country. We are currently working closely with our
customers to compensate them for the damage caused to their homes,
farms and businesses. Our Catastrophe Property Reinsurance
programme has worked well to protect FBD and mitigate the net
impact of this storm. In addition, attritional weather claims are
somewhat higher than last year given the prolonged poor
weather.
However, the underlying profitability of our business continues
to be sound. In this current low interest rate environment,
investment income continues to be very low and as a result, our
focus is on underwriting discipline and careful growth in our core
markets of farm, business and consumer, as the Irish economy
expands.
So far this year, we have been pleased to modestly grow our
customer and premium levels. FBD has embarked on a major
multi-million euro branch investment and rebranding programme for
all 34 FBD branches nationwide. In addition, we anticipate opening
a second Dublin branch on Baggot St, Dublin 4 in June of this year.
The FBD Baggot St branch will complement the new FBD Northside
branch opened in Drumcondra, Dublin 9 in late 2017. This expansion
of our nationwide branch network is part of our strategy to bring
our excellent Irish insurance expertise and value to the local
businesses and consumers of our Capital City."
Enquiries Telephone
FBD Holdings plc
Paul Murphy, Corporate Business
Manager +353 1 409 3208
Powerscourt
+353 83 4488
Jack Hickey 339
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
general insurance needs of farmers, businesses and private
individuals.
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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