FBD sets aside €22m for Covid court battle and scraps shareholder dividend

FBD has scrapped its proposed €1 per share shareholder dividend for 2019 and has set aside €22m to cover potential costs from its pending legal battle with publicans over Covid-19 disruption cover.

However, the insurer said it sees the €22m as being “a precautionary reserve” and that it remains “strongly of the view” that its policies do not provide cover for a pandemic like Covid-19.