Beleaguered FBD set to scrap full-year dividend

Insurance company has endured a torrid year

FBD chief executive Andrew Langford is stepping down from his post immediately, after seven years in charge.

Under-pressure insurance company FBD Holdings is poised to scrap its full-year dividend, as it looks to conserve capital to deal with losses.

The company said last May that it was abandoning its half-year payment to shareholders and would make a decision on a full-year dividend when its 2015 financial results were known.

However, The Sunday Business Post now understands that the full-year payment is to be ditched. FBD’s dividend yield was among the ...