FBD boss hits back at premium costs criticism

Fiona Muldoon was speaking as FBD, which has evolved from being a farm insurer to the biggest domestic insurer, said it had posted a profit before tax of €11.9m in the first half of the year, in contrast to the €5.3m loss it had made in the corresponding period last year.
FBD said it had a combined operating ratio (COR) of 93% including a one-time €5.6m Motor Insurers’ Bureau of Ireland (MIBI) provision release following the Supreme Court judgement of Setanta.