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May 22 2019, 07:10 IST/BST
FBD Holdings
Raising 2019 profits to reflect strong start to the year
- Sectors : Insurance
- Companies : FBD Holdings
DAVY VIEW
Q1 demonstrated a strong start to the year, both in underwriting performance and investment returns. Accordingly, we increase our FY19 earnings by 15% – but leave FY20 and FY21 relatively unchanged – and raise our solvency estimates. We reiterate our ‘Outperform’ rating (unchanged price target of €12) and view the 6% underperformance to the sector year-to-date as unjustified.
