FBD reports 40% jump in profits

GENERAL insurer FBD Holdings has reported better-than-expected pre-tax profits - up 40% on the year.

Boosted by strong performances in the underwriting business, profits rose to €185.2 million for the year to the end of December from €132m.

Operating profits were 30% up at €162.6m in 2005 from €124.8m in 2004.