FBD sees profit fall as inflation prompts underinsurance concerns

Despite falling profits, FBD group saw premium income increase in 2022, reporting a final sum of €382.9m

The group noted that it was a "challenging year" for investment, which saw negative returns in 2022.

Underinsurance has been highlighted as a key concern for FBD, with the company reporting a pre-tax profit of €74m in 2022, down from €110m the previous year.

The group's chief executive, Tomás Ó Midheach noted inflationary pressure had prompted concerns that customers were not adequately insured, with rising prices "impacting rebuild and replacement costs."