Insurer sees small rise in pre-tax profit

Insurance company FBD posted a solid performance over the first six months of 2012, which included a marginal increase in pre-tax profit and a rise in market share.

However, it wrote off its investment in the collapsed stockbroking firm Bloxham and made a significant outlay in Treasury bills.

Profit before tax for the first six months of 2012 was €22.19m, a 1.5% increase on the €21.8m pre-tax profit posted in the first six months of last year.