Due to FBD’s degradation in full-year results and it’s plunge in 2015 operating profit prospect, FBD Holdings PLC fell significantly in Dublin trading.
At 9:35 a.m, the Irish car insurance company holdings dropped 14 percent equal to 10.50 euros.
This is the most decline since Nov. 11, when this car insurance agent has lowered its earnings forecast twice within five months. FBD announced a 13 cent loss per share instead of the loss of zero to 10 cents it forecast in November, 2014
The Irish car insurance company stated that 2014 had been a very difficult year for the Irish insurance industry in general and FBD in particular.
The environment has worsen remarkably that exceed their expectation.
Increase in price
In a phone interview, CEO Andrew Langford said that FBD had increased prices and cut premiums to yield profits.
He also stated that his car insurance company plans to raise premiums from 5 percent to 6 percent this year, together with a slight increase in car insurance costs.
According to Eamonn Hughes, an analyst with Goodbody Stockbrokers in Dublin, FBD’s direction in 2014 “is disappointing.
Moreover, the current year seems to continue the same direction.
At 9:35 a.m, the Irish car insurance company holdings dropped 14 percent equal to 10.50 euros.
This is the most decline since Nov. 11, when this car insurance agent has lowered its earnings forecast twice within five months. FBD announced a 13 cent loss per share instead of the loss of zero to 10 cents it forecast in November, 2014
The Irish car insurance company stated that 2014 had been a very difficult year for the Irish insurance industry in general and FBD in particular.
The environment has worsen remarkably that exceed their expectation.
Increase in price
In a phone interview, CEO Andrew Langford said that FBD had increased prices and cut premiums to yield profits.
He also stated that his car insurance company plans to raise premiums from 5 percent to 6 percent this year, together with a slight increase in car insurance costs.
According to Eamonn Hughes, an analyst with Goodbody Stockbrokers in Dublin, FBD’s direction in 2014 “is disappointing.
Moreover, the current year seems to continue the same direction.
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