FBD flags hikes in premiums amid tough conditions

Insurance customers could be in for further premium hikes before the close of the year as FBD tries to claw itself back to profitability against a difficult backdrop.

Shares in insurance company FBD closed down 4% yesterday on the back of an interim statement which flagged the persistence of tough trading conditions.

FBD said it is committed to returning to profitable growth by focusing on sustainable business and through “risk selection improvements and rate increases where they are merited or required”.