Saturday July 11, 2020

FBD ditches brokers as rising claims start to bite

New chief executive Muldoon is hoping to shave €7m off the company’s operating costs

Ian Guider

Markets Editor

30th August, 2015

Beleaguered FBD Holdings is to end its relationship with insurance brokers, as it looks to reduce its losses and focus on its direct sales channels.

Sales through brokers account for about 10 per cent of annual premium income. However, FBD said last week that about €28 million of the €88 million it set aside in extra reserves to pay out on mounting claims related to insurance policies sold through brokers.

The broker channel has been one...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures

Tom Maguire | 2 months ago

What’s coming up today and what you might have missed

Hannah O’Brien | 6 months ago