FBD: Insurance cost hikes ‘essential’

Irish insurer FBD is eyeing a return to underwriting profits in the final months of the year as premiums continue to increase for policyholders.

The company, which recorded an €85m pre-tax loss last year, said it remains “essential” that insurance costs continue to rise.

With premiums increasing across the board and a 33% spike in motor insurance in the last 12 months alone, the statement will come as further bad news to consumers.