FBD bucks tough insurance market to post 41% rise in operating profits

GIVEN the tough market conditions in the general insurance sector, FBD reported strong operating profits that rose 41% to €40.7 million in 2010.

At the pre-tax level, loses were down dramatically from €34.6m a year previously to just over €3m.

Cost cutting and prudent risk management helped the strong surge in the group’s operating performance.