FBD raises pub claims provision
FBD Holdings said it has increased its provision for the fallout of the High Court pub business interruption cases ruling to €65m, which includes estimated net claims costs of
€54m and €11m assumed reinsurance reinstatement premium.

It said that gross claims costs are currently estimated to be about €150m.
The insurer said the effects of the judgement are being considered with its reinsurance partners in order to finalise the reinsurance recovery position.
FBD has reported profit before tax of €4.8m for the year to the end of December.
It said the figure reflects a "strong underlying business performance" and includes positive prior year claims reserve development of €23m and an investment return of €10m.