FBD Holdings recorded a slight rise in pre-tax profits in the first six months of the year despite a fall in the value of its premiums.
The insurance company made a profit of almost €22.2 million to the end of June, compared to just over €21.8m in the same period last year.
The company said an improved loss ratio was the primary driver of this rise, as gross value of written premiums fell by almost €3m to €174.7m.
Speaking on RTÉ’s Morning Ireland, CEO Andrew Langford said the company was happy with its performance against what was a difficult economic backdrop.
Mr Langford said that while the Irish insurance market was contracting he believed the pace of this was beginning to slow.
