Job losses to follow FBD’s record €96.4m loss

A record €96.4m loss coupled with imminent staff redundancies and higher customer premiums yesterday marked a very weak set of half-yearly results for FBD.

The insurer laid the blame largely at the door of what it described as a “structural shift in the claims environment in Ireland” which has led to increased claims costs.

The previously signalled claims uncertainty has deteriorated further and the existing business strategy has not delivered profitable growth.