Download full report with analyst certification and important disclosures
Jul 31 2020, 07:35 IST/BST
FBD Holdings
H1 results ahead; new CEO appointed
- Sectors : Insurance
- Companies : FBD Holdings
DAVY VIEW
H1 results are ahead of expectations through a stronger underwriting result. Premium performance and the solvency position were also stronger than indicated in the recent June trading update. Business interruption (BI) risk remains a key uncertainty, which FBD acknowledges, but a higher associated provision was offset by further prior-year reserve releases. The announcement of a new CEO is welcome. Tómas O’Midheach will join in February 2021 from AIB Group, where he has relinquished his COO and Deputy CEO positions.
