Average premiums at FBD up 3.4% in first half
Average premiums at insurer FBD in the first six months of the year were 3.4% higher compared with the same period last year, according to its first-half financial results.
The firm said that inflationary pressures led to a 1.8% increase in the average motor premium.
Farm and home average premiums increased by 7% and 5%, respectively, reflecting “indexation applied to property sums insured and increased coverage requirements”.
Profits jump
FBD’s pre-tax profits more than doubled to €43 million in the six-month period, as gross premiums written by the firm rose by 3.8% to just over €258.4 million.
Gross incurred claims fell by more than €80 million compared with a year earlier, when severe weather, particularly Storm Éowyn, affected the figures.
The insurer said that the severity of motor damages claims increased during the first half of 2026, with a higher incidence of vehicle write-offs, driven by what it described as “the growing prevalence of advanced vehicle technologies and increasingly complex repair methodologies”.
Pre-litigation costs fall
FBD said that a higher proportion of injury-claim settlements were resolved at Circuit Court level in the first half, while it had also seen a reduction in pre-litigation costs.
“Together, these factors are contributing to signs of stabilisation in average injury-settlement costs compared with FY [full-year] 2025,” it stated.
The firm added, however, that the number of notified injury claims valued above €250,000 so far this year was higher than the average over the past ten years.