FBD posts pre-tax profits of €39m in first half of 2023

The surge in profits was largely driven by positive investment returns and a fall in service expenses

FBD Insurance, South Mall, Cork. Picture Denis Minihane.

Insurance company FBD saw a surge in pre-tax profits with both revenue and investment returns rising in the first six months of 2023.

The group reported a pre-tax profit of €39.5m, up from just €2.5m in the same period last year, driven largely by growing insurance revenue, falling service expenses and positive returns on investments.