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FBD Holdings PLC - Dublin-based car, home, farm and business insurance - Swings to pretax profit of EUR22.0 million in the half year that ended June 30 from loss of EUR9.3 million a year before. Revenue climbs 2.1% to EUR191.5 million from EUR187.6 million. Combined operating ratio drops to 92% from 103%, meaning a swing to underwriting profit. No interim dividend is declared, in line with 2020.
"FBD has delivered a strong set of interim results with a positive backdrop of reducing restrictions and an advancing vaccination program. The real impact on the economy will become clearer when Government income supports are removed and despite the variant uncertainty there are many reasons for renewed optimism," says Chief Executive Tomas O'Midheach.
Current stock price: EUR8.47
Year-to-date change: up 13%
By Josie O'Brien; josieobrien@alliancenews.com
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