FBD Holding Plc

Earnings Release • Feb 14, 2023

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author: Jane Higgins
date: 2023-02-14 15:48:00+00:00

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FBD Holdings plc

FBD Insurance plc

Trading Update

14th 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.

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:

FBD Holdings plc, FBD House, Bluebell, Dublin 12
Registered in Dublin, Ireland Registered Number 135882

Enquiries	Telephone
FBD Holdings plc
Michael Sharpe, Investor Relations	+353 87 9152914
Drury
Paddy Hughes

Listing	Euronext Dublin	UK Listing Authority	UK Listing Authority
Listing Category	Premium	Premium (Equity)	Premium (Equity)
Trading Venue	Euronext Dublin	London Stock Exchange	London Stock Exchange
Market	Main Securities Market	Main Market	Main Market
ISIN	IE0003290289	IE0003290289	IE0003290289
Ticker	FBD.I or EG7.IR	FBH.L	FBH.L