FBD Holdings reports slight fall in pre-tax profit last year

Monday 03 March 2014 19.03
FBD Holdings' chief executive Andrew Langford (left) and chairman  Michael Berkery
FBD Holdings' chief executive Andrew Langford (left) and chairman Michael Berkery

Insurer FBD Holdings has reported a slight fall in pre-tax profit in 2013, which it said was caused by a small number of very large accident and liability injury claims offsetting its strong investment performance.

The company said its profit before taxation was €51.5m last year, down €800,000 on its 2012 figure.

FBD said its capital base had been strengthened further during the year, with its solvency lever standing at 78.1% compared to 73.8% in the previous results.

The insurer has also reported an increase in customer numbers, with its market share increasing to its highest point ever at 13.4%.