FBD sees profits fall to €77m despite growth in revenue

FBD said insurance revenue rose by 10% to €441m, with its gross written premiums also rising by 13%

FBD said average premiums in the year rose by 5.8% across the portfolio, half of which related to customers increasing their overall coverage and changing business mix. Picture Denis Minihane.

Insurance provider FBD saw its pre-tax profit fall to €77m last year despite growth in revenue which was underpinned by an increase in transactions among its farmer customer base. 

In a trading statement published on Friday, FBD said insurance revenue rose by 10% to €441m, with its gross written premiums - the total amount collected in exchange for insurance policies - also rising by 13% in the year to €460m at the end of 2024.