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FBD says performance in line with expectations

Updated / Wednesday, 12 May 2021 12:48 FBD said today that the underwriting performance of its business so far this year has been in line with expectations FBD Insurance has said the provision it holds for Covid-19 business interruption claims relating to its pub policies remains at €65m net of reinsurance. In a trading update issued ahead of its AGM today, the company said that a recent supplementary court judgement gave additional clarity on costs and the definition of closure. FBD said the final determination of the remaining aspects of quantum should be determined after a further court hearing in July. In the meantime we will continue to progress our claim with reinsurers. In addition we have engaged with the Financial Services & Pensions Ombudsman (FSPO) on complaints that they are in the process of adjudicating, the company added.

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