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(Alliance News) - FBD Holdings PLC Friday reported a surge in its half-year profit.
In the six months to June 30, the Dublin-based insurer said pretax profit soared to EUR39.9 million from EUR2.5 million a year prior, partly driven by a 4.5% growth in insurance revenue to USD194.5 million from USD186.1 million a year ago.
Net insurance and investment result grew sharply to EUR71.7 million from EUR24.0 million.
FBD added it approved a special dividend of 100 US cents per share.
Looking ahead, FBD said it expects to "continue on a solid growth path".
Chief Executive Officer Tomas O Midheach said: "We have demonstrated that our relationship focus strategy is delivering and our evolving strategy to firmly position FBD for the future to become a digitally enabled, data enriched organisation delivering an excellent customer and employee experience, is firmly on track."
Shares in FBD were trading flat at EUR12.95 each in London on Friday morning.
By Sabrina Penty, Alliance News reporter
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