FBD Holdings plc has released a trading update for the year ended 31 December 2023, indicating a strong financial performance. The company expects its profit before tax to be approximately €80m, surpassing market expectations. This positive outcome is attributed to favorable underwriting performance, driven by positive prior year development. The full details of FBD's 2023 financial results will be disclosed on 8 March 2024, following the completion of audit and corporate governance processes.
FBD Holdings plc, established in the 1960s, is one of Ireland's largest property and casualty insurers, catering to the insurance needs of farmers, consumers, and business owners. The company, which originated from farmers' associations, has expanded to become a leading general insurer, serving the requirements of its direct agricultural, small business, and consumer customers across Ireland. FBD operates through a network of 34 branches nationwide.
FBD's ordinary shares of €0.60 each are publicly traded on Euronext Dublin and the London Stock Exchange. The company's listing category is Premium (Equity), and its trading venue is the Main Securities Market on Euronext Dublin and the Main Market on the London Stock Exchange. FBD Holdings plc is committed to complying with the Market Abuse Regulation, ensuring the disclosure of inside information in accordance with regulatory requirements.
For further information, investors and stakeholders can contact Fiona Meegan, Investor Relations at FBD Holdings plc, or Paddy Hughes at Drury.
This trading update reflects FBD Holdings plc's robust financial performance for 2023, positioning the company as a key player in Ireland's insurance sector.