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Jun 25 2020, 08:35 IST/BST
FBD Holdings
Dividend postponed; €22m precautionary reserve for business interruption
- Sectors : Insurance
- Companies : FBD Holdings
DAVY VIEW
The decision not to propose the 2019 dividend at the forthcoming AGM does not come as a surprise. However, the continuing treatment of the dividend as ‘foreseeable’ – i.e. postponed not cancelled – underlines FBD’s unchanged position on its view related to its business interruption exposure. Given the favourable underwriting trends year-to-date and a partial recovery in investment markets, the outcome of the October test case will be the key determinant of any dividend and/or capital returns.
