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Nov 20 2019, 08:25 GMT
FBD Holdings
Personal Injuries Guidelines Committee to be established
- Sectors : Insurance
- Companies : FBD Holdings
DAVY VIEW
We view signs of progress in claims reform, which has been slow to date, as a positive for FBD and the industry. Although still at an early stage, reform will improve the sustainability of earnings and will also have positive solvency implications. FBD shares have underperformed the wider European insurance sector by 20% since the start of September with its 2020 P/E at 8.5x versus 11.5x. This is despite positive trading year-to-date and continuing favourable weather conditions.
