FBD expects full year profit to be roughly double expectations at €90m
It said strong underwriting results had been partially offset by a negative return on investments through the income statement.
The Irish insurer was also impacted by a €15 million hit on its investment returns amid volatile markets, even as its gross written premiums and earnings from insurance underwriting rose. This, FBD said, reflected “the expected reduction in claims costs as a result of the new personal injury guidelines and an improvement in underlying claims experience”.
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