Sunday 26 May 2019

Brexit remains 'major source of uncertainty' for FBD

Stock photo: PA Wire/PA Images
Stock photo: PA Wire/PA Images
Ellie Donnelly

Ellie Donnelly

Brexit and its likely impact, continues to be "a major source of uncertainty for FBD", Irish farmers and Irish businesses, the insurer has said.

The insurance group continues to plan for any operational impacts which may arise as a result of the UK’s decision to leave the European Union, Liam Herlihy, chairman of FBD, said ahead of the group's AGM today.

"We will continue to support our customers through this transition," he added.

To-date this year FBD’s trading performance has been "good".

"The underlying profitability of the business is sound as we maintain our underwriting and pricing discipline in the face of continuing strong competition," Mr Herlihy said.

"Weather in the year to date has been benign with no significant events occurring."

The insurance group’s investments have also benefitted from an improving macroeconomic outlook, despite the current low interest rates, Mr Herlihy said in a statement.

"This has benefited our investment return in the year to date." 

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