FBD operating profits rise
Insurance group FBD posted a profit rise in the first half of 2012, recording pre-tax profits of €22.2 million to the end of June, up from €21.8 million during the same period last year.
Operating profits rose to €28.6 million from just over €28 million in the first six months of 2011.
Gross premium written in the first half of 2012 was to €174.7 million, down €177.5 in the corresponding period last year. Net premium earned, at €150.8m, is nearly in line with 2011.
The company said it was proposing an interim dividend of 12.25 cent per share, an increase of 8.9 per cent.
“These are excellent results in difficult economic conditions. We believe that gross written premium is well ahead of a contracting market and that FBD’s market share has again increased. The Board is confident that FBD will continue to outperform its peers in delivering superior returns to shareholders," FBD group chief executive Andrew Langford said.