FBD on target for 2007

Insurance broking and property development company FBD Holdings has said its progress in the second half of 2007 has continued at forecasted levels.

Fewer weather-related insurance claims meant the overall claims performance improved in the latter half of the year, while FBD blamed the weakness in financial markets for a lower-than-expected income in its non-underwriting activities. The company expects the underwriting result to be on budget.