FBD to increase non-life premiums to plug some of €12m flood losses

INSURANCE group FBD is set to increase its non-life premiums to recoup some of the €12m lost to cover the impacts of the January floods.

Home and business insurance premiums have already risen in the first three months of this year, but motor insurance rates had been slower to increase, according to FBD’s interim management report for Q1 2010.

On the strength of these projected increases to its customers’ premiums, the insurer also predicts solid operating profits for 2010, and projects long-term profitable growth.