No change for FBD earnings forecast

HAVING considered current trading conditions, FBD Holdings sees no reason to change its earlier earnings forecasts for 2011.

In a statement issued prior to yesterday’s annual general meeting, the group said: “Unless exceptional claims events arise during 2011, the board reiterates its previous guidance that the group will deliver full-year 2011 operating earnings per share of 130 cent to 140 cent.”

In the first quarter of 2011, the general insurer said the benefits of hardening rates were offset by the ongoing reduction in insurable risk and values, reflecting ongoing weakness in the economy.