Companies
FBD: Inflation driving up insurance premiums despite government cost-cutting measures
FBD’s income from consumer premiums rose 9 per cent year-on-year in the first quarter
Cuts to personal injury insurance premiums stemming from government reforms have already taken affect, while inflation continues to drive cover prices higher, according to Tomás Ó Midheach, the chief executive of FBD Insurance.
Ó Midheach was speaking at the insurance firm’s AGM, where it announced a 9 per cent increase in its gross written premium (GWP) – the total amount collected from customer premiums – in the first quarter of this year, compared to the ...