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FBD Holdings PLC - Dublin-based insurer - Says it will commence the process of settling claims after a ruling by the Commercial Court in Ireland finds four pubs owners are entitled to compensation under their business interruption cover for losses suffered because of the Covid-19 pandemic.
"FBD will also consider the effects of the judgement with its reinsurers and will revert to the market shortly on the estimated net cost of Covid-19 related business interruption claims to the company. FBD expects this cost to be well within the range of considered financial outcomes, with FBD remaining strongly capitalised," it adds.
Current stock price: EUR7.40
Year-to-date change: up 1.2%
By Ife Taiwo; ifetaiwo@alliancenews.com
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