Dutch insurer Eureko, which owns Friends First in Ireland, has received funding of €1 billion from shareholders to cope with €2.9 billion of writedowns.
Rabobank, which owns just under 40% of Eureko, invested €400m, while 54% shareholders Achmea put in €600m.
Eureko forecast a net loss of €2.1 billion for 2008 after falls in the value of its equity holdings and writedowns on its stakes in Millennium BCP and F&C Asset Management. Eureko says it has no exposure to risky US credit assets such as sub-prime mortgages.
Last year, Eureko withdrew an approach for Dublin-listed insurer FBD Holdings after it was rejected.
