FBD News

Storm Ophelia Leaves Trail of Destruction in Ireland; Damages Could Reach $1.8B

Irish authorities will begin to clean up and count the cost of the worst storm to hit the country in more than 50 years, after Ophelia left a trail of destruction in its wake. At least three people died in …

Troubled Irish Insurers Seek Solvency II Support From Bond Investors, Buffett

Investors hunting for yield after a global financial rout might well take a detour to the headquarters of a tiny insurance company hidden away along a highway in west Dublin. Just as world markets cratered on August 24, troubled Irish …

Ireland’s FBD Reports H1 Loss of $97.7M, Versus Profit of $6.8M in 2014

FBD Holdings plc fell to a five-year low after Ireland’s only publicly traded insurer posted one of its biggest first-half losses on record and said it’s unlikely to be profitable until the end of 2016. The company will sell as …

FBD Shows How to Lose Money, Even During Ireland’s Economic Recovery

Usually, economic recovery helps companies. Not so FBD Holdings plc. FBD, Ireland’s only publicly traded insurer, will publish first-half earnings in Dublin on Aug. 24, with analysts waiting to see whether the increasing claims linked to accelerating economic activity it …

Ireland’s FBD Could Sell as Much as $83M of Debt to Meet Solvency II Rules

FBD Holdings plc may seek to sell as much as 75 million euros ($83 million) of subordinated debt to ensure it meets new solvency rules, Darren McKinley, an analyst at Merrion Capital said. Insurance company FBD may need a capital …

Ireland’s FBD Holdings Reports Worse-Than-Forecast Operating Loss, Weak Outlook

FBD Holdings plc plunged in Dublin trading after the Irish insurer’s full-year results missed its own downgraded forecast and its operating profit outlook for 2015 fell short of analysts’ expectations. FBD declined 14 percent to 10.50 euros at 9:35 a.m., …