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May 12 2022, 08:15 IST/BST
FBD Holdings
Good underwriting; investment lower but capital robust
- Sectors : Insurance
- Companies : FBD Holdings
DAVY VIEW
FBD’s trading update is in line with expectations, with good momentum on customer numbers and growth in Gross Written Premium (GWP). Investment returns are negatively contributing, but capital/solvency levels remain robust. We see the update as supportive of the investment case, with good business momentum, while the strong solvency position – materially above target – provides good insulation in volatile investment markets to FBD’s distribution policy.
