February 27, 2020 / 7:10 AM / a month ago

BRIEF-Irish insurer FBD more than doubles full year profits

Feb 27 (Reuters) - FBD Holdings PLC:

* FBD HOLDINGS - FY PROFIT BEFORE TAX OF 112.5 MILLION EUR VERSUS 50 MILLION EUR A YEAR AGO

* FBD HOLDINGS - COMBINED OPERATING RATIO (COR) 72.3% VERSUS 81.2% YEAR AGO, GROSS WRITTEN PREMIUM OF 370 MILLION EUR

* FBD - COR DRIVEN BY STRONG CURRENT YEAR COR OF 84%, POSITIVE PRIOR YEAR CLAIMS RESERVE DEVELOPMENT OF 40 MILLION EUR

* FBD HOLDINGS - PROPOSED DIVIDEND OF 100C PER SHARE, PAY-OUT OF 35% OF GROUP PROFITS VERSUS 40% IN 2018

* FBD HOLDINGS - AVERAGE PREMIUMS DOWN BY 2.2%, WITH MOTOR PREMIUMS DOWN 4.2% AND FARM DOWN 2.5%

* FBD CEO SAYS WELCOMES INCREASING STABILISATION EVIDENT IN COURT AWARDS, RESULTING STRONG CLAIMS SETTLEMENT ACTIVITY Further company coverage: (Reporting By Padraic Halpin)

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