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CORRECTED-BRIEF-FBD has capital in excess of Solvency II requirements
November 16, 2015 / 7:13 AM / 2 years ago

CORRECTED-BRIEF-FBD has capital in excess of Solvency II requirements

(Corrects headline to say FBD has capital, not to have .. by year end)

Nov 16 (Reuters) - Fbd Holdings Plc

* Policy volumes have declined 9.2% year to date

* Policy volume decline offset by average rate increases of 9.1%

* Claims settlement environment remains challenging, though experience since end of quarter two has been in line with group’s expectation

* Group believes that industry will continue to be loss making for 2015 and 2016

* It remains FBD’s view that market has not increased rates sufficiently to compensate for significant deterioration in claims environment

* FBD insurance plc has capital in excess of its solvency II capital requirement in advance of its effective date of 1 January 2016. Further company coverage: (Reporting by Conor Humphries)

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