Update to Interim Management

RNS Number : 0498E

FBD Holdings PLC

14 December 2009

 



Update to Interim Management Statement issued on 19 November 2009

Impact of Severe Weather Claims

FBD Holdings plc ('FBD' or 'the Group') provides the following update to the Interim Management Statement issued on 19 November 2009 to take account of the impact of flooding in the south and west of Ireland.  It is likely that the cost to the Irish Insurance Industry of this unprecedented flooding will exceed the cost of any previous weather-related event.

The Group estimates that the flooding will increase its net incurred claims costs for 2009 by between €8m and €9m, reducing earnings per share by 21 to 24 cent.

Barring further exceptional claims events during the remainder of the year, the Group is confident that full year operating earnings per share will be in the range of 75 to 80 cent.

For Reference	Telephone
FBD
Andrew Langford, Group Chief Executive	+ 353 1 409 3208
Cathal O'Caoimh, Group Finance Director	+ 353 1 409 3208
Murray Consultants
Joe Murray	+ 353 1 498 0300

FBD Holdings plc, FBD House, Bluebell, Dublin 12, Ireland

Registered in Dublin, Ireland. Registered Number 135882

FORWARD LOOKING STATEMENTS

Some statements in this announcement are forward-looking. They represent expectations for the Group's business, and involve risks and uncertainties. These forward-looking statements are based on current expectations and projections about future events. The Group believes that current expectations and assumptions with respect to these forward-looking statements are reasonable. However, because they involve known and unknown risks, uncertainties and other factors, which are in some cases beyond the Group's control, actual results or performance may differ materially from those expressed or implied by such forward-looking statements. 

 

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