Friday 27 April 2018

FBD earnings in line with estimates

Colm Heatley

Insurance group FBD said it expects 2010 operating earnings per share to be in line with analysts’ forecasts, in the absence of "exceptional claims events."

The consensus of estimates points to operating EPS of 97 cents, up from 75 cents in 2009, FBD said in a statement today.

It didn’t specify how the consensus figure was arrived at.

While economic uncertainty remains, volatility in the Irish economy has lessened, the company said.

The decline in policy volumes has slowed significantly and has been offset by increases in premiums, FBD said in the statement.

The number of large claims was lower in the first quarter than in the year-earlier period.

The cost of claims resulting from freezing weather in January amounted to €12m, net of underwriting, the company said.

FBD rose 30 cents, or 4pc, to €7.80 in Dublin trading, giving the company a market value of €276.6m.


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