REG - FBD Holdings PLC - Trading Update

FBD HoldingsAnnouncement

13/02/2025 18:15

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RNS Number : 0801X  FBD Holdings PLC  13 February 2025

FBD Holdings plc

FBD Insurance plc

Trading Update

13(th) February 2025

 

FBD Holdings plc ("FBD") today issues a trading update for the year ended 31
December 2024 ahead of the publication of its Full Year results on 7 March
2025.

 

2024 Financial Highlights

2024 Full Year financial performance is anticipated to be ahead of market
expectations with profit before tax expected to be approximately €75m. This
is as a result of strong business growth during 2024, positive underwriting
results and increased investment returns.

 

Underwriting results have benefited from overall favourable claims experience
in the latter part of 2024, relating to both current and prior years.

 

January 2025 Weather Events

Storm Éowyn, which occurred on Friday 24 January, is set to be the single
biggest storm in FBD's history. This followed the very cold spell of early
January, which led to a significant amount of snow related damage.  In the
aftermath of these weather events, FBD has been working hard to support its
customers. Events like these are when customers rely on FBD most and our teams
are working assiduously to ensure claims are processed quickly and fairly.

 

While it is still too early to determine the total number and gross cost of
claims from the weather events of January 2025, FBD's reinsurance programme
provides cover for extreme events and this will mitigate the financial impact
to FBD. As a result, the overall net cost (including reinstatement premium)
for January 2025 weather is currently expected to be approximately €30m.

 

Preparation of the Full Year 2024 results is on-going and subject to FBD's
standard audit and corporate governance processes.  Full details of FBD's
2024 financial results will be released on 7 March 2025, alongside formal
guidance for 2025.

 

 

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
 Fiona Meegan, Investor Relations                             +353 1 4194885

 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
                    Listing Category  Premium
                    Trading Venue     Euronext Dublin
                    Market            Main Securities Market
                    ISIN              IE0003290289
                    Ticker            FBD. I or EG7.IR

FBD Holdings plc, FBD House, Bluebell, Dublin 12

Registered in Dublin, Ireland Registered Number 135882

 

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
 Listing Category  Premium
 Trading Venue     Euronext Dublin
 Market            Main Securities Market
 ISIN              IE0003290289
 Ticker            FBD. I or EG7.IR

FBD Holdings plc, FBD House, Bluebell, Dublin 12

Registered in Dublin, Ireland Registered Number 135882

 

 

 

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