Norwegian insurer Protector Forsikring has hiked its stake in FBD Holdings to 8.4 per cent, making it the third-largest shareholder in the Irish insurance company. Shares in FBD spiked in the middle of last month when Protector Forsikring first emerged on the shareholder register, with a 6.3 per cent holding. Farmer Business Developments, a vehicle through which original farmer shareholders remain invested in the business, is FBD’s largest shareholder, with a 24.3 per cent stake, followed by FBD Trust Company, at 8.5 per cent. The Norwegian company’s business model is very different to FBD in that it is a commercial insurer, rather than a consumer one, focusing on public sector and property and casualty coverage. The latest share buying took place on Tuesday and FBD was notified on Thursday, according to a stock exchange announcement.

Source: The Irish Times May 27, 2021 11:15 UTC