FBD Holdings PLC Trading Statement (4883I)
22 March 2018 - 4:00AM
UK Regulatory
TIDMFBH
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 +353 1 409 3208
John O'Grady, Chief Financial
Officer +353 1 409 3399
Powerscourt
+353 83 4488
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
END
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