FBD Holdings PLC Statement re Business Interruption Claims (1942O)
February 05 2021 - 7:54AM
UK Regulatory
TIDMFBH
RNS Number : 1942O
FBD Holdings PLC
05 February 2021
FBD Holdings plc
5(th) February 2021
FBD Market Update
FBD Holdings plc ("FBD or the Group") announces a market update
following the judgement this morning in the test case on Covid 19
business interruption cover.
Business Interruption Claims
FBD refers to the judgement today by the Commercial Court in
Ireland in the test case taken, relating to public house policies,
with the objective of achieving clarity for all parties around the
application of business interruption insurance cover for losses
suffered as a result of Covid 19 pandemic public health measures.
FBD notes the decision of the Court that our public house policies
do provide cover in the circumstances reviewed.
FBD intends to now commence the process of settling claims for
the customers involved which will include issuing interim payments
in the short-term while awaiting final clarity on quantum.
FBD will also consider the effects of the judgement with its
reinsurers and will revert to the market shortly on the estimated
net cost of Covid 19 related business interruption claims to the
Company. FBD expects this cost to be well within the range of
considered financial outcomes, with FBD remaining strongly
capitalised.
Enquiries Telephone
FBD Holdings plc
Michael Sharpe, Investor Relations +353 87 9152914
Powerscourt
Jack Hickey +353 83 4488 339
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
STRKZGGZZKZGMZM
(END) Dow Jones Newswires
February 05, 2021 07:54 ET (12:54 GMT)
Fbd (LSE:FBH)
Historical Stock Chart
From May 2024 to Jun 2024
Fbd (LSE:FBH)
Historical Stock Chart
From Jun 2023 to Jun 2024