Saturday August 15, 2020

Watsa calls €70m rescue of FBD good recovery bet

Watsa made a killing on Bank of Ireland bailout

Ian Guider

Markets Editor

17th April, 2016
Canadian billionaire Prem Watsa

Canadian billionaire Prem Watsa has described his €70 million rescue of the insurance company FBD as another potentially lucrative bet on Ireland’s economic recovery.

Watsa made a killing on the bailout of Bank of Ireland and pumped the money into the insurer in the form of a convertible bond that pays an annual interest rate of 7 per cent.

“This investment underlines our belief in the strength of Ireland’s ongoing economic recovery and in...

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