FBD, one of the Republic’s largest property and casualty insurers, said it will report profit before tax of at least €100 million, about €40 million ahead of what was expected by analysts. Insurers have linked the rising cost of insurance to an increasing prevalence of claims and higher awards but the legal profession disputes that. The insurer said that better than expected investment returns and exceptionally benign weather throughout the year were among the factors contributing to its outperformance. This, it said, is “after allowing for any potential proposed dividend in line with our existing dividend payout policy”. Allianz Ireland, for example, posted profit before tax in 2018 of €36.7 million having written €568 in gross premiums.

Source: The Irish Times February 06, 2020 14:26 UTC