FBD Holdings PLC Trading Statement (4883I)

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RNS Number : 4883I

FBD Holdings PLC

21 March 2018

FBD Holdings plc

Trading Update

21st March 2018

Ireland experienced a severe snow storm on Thursday 1 March. Storm Emma has resulted in significant property damage and we have been working with our customers to compensate them for the damage caused to their homes, farms and businesses. The number of claims is leveling off and the majority of those seen so far have come from the East and South.

While it is still too soon to present an exact tally of both the final claim count and the gross cost from this storm, our reinsurance programme provides good cover in extreme events such as this. As a result, the overall net cost (after reinstatement premia) to the Income Statement is expected to be in the range of EUR6m-EUR8m.

Fiona Muldoon, CEO of FBD said: "Storm Emma was the worst snow storm the country has seen since 1982 and an unusual weather event for Ireland. So far, for FBD, it has been characterised by a smaller number of higher value claims than our more typical windstorms. That said, I am pleased that our Catastrophe Property Reinsurance programme is working well to protect FBD and that the net cost of this storm will be contained at EUR6m-EUR8m."

 
  Enquiries                          Telephone 
 
 
    FBD Holdings plc 
  Fiona Muldoon, Chief Executive 
   Officer                           [phone] 
  John O'Grady, Chief Financial 
   Officer                           [phone] 
 
 
 
    Powerscourt 
                                      [phone] 
  Jack Hickey                           339 
 

About FBD Holdings plc

The FBD Group was established in the 1960s and is one of Ireland's largest property and casualty insurers looking after the insurance needs of farmers, private individuals and business owners.

Forward Looking Statements

Some statements in this announcement are forward-looking. They represent expectations for the Group's business, and involve risks and uncertainties. These forward-looking statements are based on current expectations and projections about future events. The Group believes that current expectations and assumptions with respect to these forward-looking statements are reasonable. However, because they involve known and unknown risks, uncertainties and other factors, which are in some cases beyond the Group's control, actual results or performance may differ materially from those expressed or implied by such forward-looking statements.

The following details relate to FBD's ordinary shares of EUR0.60 each which are publicly traded:

 
  Listing             Irish Stock Exchange    UK Listing Authority 
  Listing Category    Premium                 Premium (Equity) 
  Trading Venue       Irish Stock Exchange    London Stock Exchange 
  Market              Main Securities         Main Market 
                       Market 
  ISIN                IE0003290289            IE0003290289 
  Ticker              FBD.I or EG7.IR         FBH.L 
 
 
 

FBD Holdings plc, FBD House, Bluebell, Dublin 12

Registered in Dublin, Ireland Registered Number 135882

This information is provided by RNS

The company news service from the London Stock Exchange

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March 21, 2018 13:00 ET (17:00 GMT)