REG - FBD Holdings PLC - Trading Update

FBD HoldingsAnnouncement

14/02/2023 16:45

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RNS Number : 9199P  FBD Holdings PLC  14 February 2023

FBD Holdings plc

FBD Insurance plc

Trading Update

14(th) February 2023

 

FBD Holdings plc ("FBD") is today issuing a trading update for the year ended
31 December 2022 ahead of the publication of its Full Year results on 10 March
2023.

 

2022 Financial Highlights

 

2022 Full Year financial performance is expected to be significantly ahead of
market expectations with profit before tax expected to be at least €70m.
Strong underwriting results have been partially offset by a negative return on
investments through the Income Statement.

 

Underwriting performance has benefited from:

-     Low injury claims frequency;

-     Benign weather throughout the year; and

-     Positive prior year reserve development.

 

Investment returns are negative for the 2022 year by €10m through the Income
Statement and by €90m through Other Comprehensive Income reflecting the mark
to market movement on our bond portfolios.

 

Preparation of the Full Year 2022 results is on-going and subject to our usual
audit and corporate governance processes.

 

Full details of FBD's 2022 financial results will be released on 10 March
2023.

 

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 FBD Holdings plc 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                           Telephone

 FBD Holdings plc
 Michael Sharpe, Investor Relations    +353 87 9152914

 Drury
 Paddy Hughes                        +353 87 616 7811

 

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 €0.60 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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