FBD Holdings PLC Increased Risk Appetite (9663B)
October 13 2020 - 11:04AM
UK Regulatory
TIDMFBH
RNS Number : 9663B
FBD Holdings PLC
13 October 2020
FBD Holdings plc
FBD Insurance plc
Increased Risk Appetite
13 October 2020
FBD Holdings plc ("FBD" or the "Group") today announces that
following engagement between the Central Bank of Ireland ("CBI")
and FBD Insurance plc ("FBD Insurance") on a range of matters, the
board of FBD Insurance (the "Board") has made the decision to
increase its Solvency Capital Ratio Risk Appetite from its current
range of 120% to 140% up to 150% to 170%.
The Board has prudently decided to increase the Solvency Capital
Risk Appetite on a voluntary basis and any adjustment below 170%
will be subject to CBI approval. The Solvency Capital Risk Appetite
will be kept under review as part of the regular engagement with
the CBI.
The Solvency Capital Risk Appetite takes account of all risks
including Non-Life Underwriting, Market, Counterparty Default and
Operational Risk incorporating systems of governance and potential
uncertainties resulting from the Covid 19 pandemic, including
business interruption claims, as well as any risk mitigation
techniques applied by FBD Insurance.
FBD remains confident in the underlying profitability, future
growth prospects and capital strength of the business.
Regulation (EU) No. 596/2014 of the European Parliament and of
the Council of 16 April 2014 on market abuse (the "Market Abuse
Regulation") requires disclosure of inside information relating to
the Group and FBD Insurance Plc. This announcement contains inside
information as defined in Article 7 of the Market Abuse Regulation
and is disclosed in accordance with Article 17 of the Market Abuse
Regulation.
Enquiries
FBD
Michael Sharpe, Head of Investor Relations +353 87 9152914
Powerscourt
Eavan Gannon +353 87 2365973
About FBD Holdings plc
FBD is one of Ireland's largest property and casualty insurers,
looking after the insurance needs of farmers, consumers and
business owners. Established in the 1960s by farmers for farmers,
FBD has built on those roots in agriculture to become a leading
general insurer serving the needs of its direct agricultural, small
business and consumer customers throughout Ireland. It has a
network of 34 branches nationwide.
The following details relate to FBD's ordinary shares of EUR0.60
each which are publicly traded:
Listing Euronext Dublin UK Listing Authority
Listing Category Premium Premium (Equity)
Trading Venue Euronext Dublin London Stock Exchange
Market Main Securities Market Main 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
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