After 20 years as chairman of FBD, Michael Berkery indicated his intention to retire from the board in 2017. Despite record losses last year, Berkery described the FBD Group he leaves behind today as a “more streamlined business” than at any time since he was chairman.
The announcement comes as part of a wider shakeup of the FBD board structure.
The current structure, where there are two separate boards, one for FBD Insurance and one for FBD Holdings, will be revamped with a single board.
ADVERTISEMENT
As part of the new-look board structure, FBD announced that current board members Emer Daly, Eddie Downey, Bríd Horan and Ruairí O’Flynn will continue in office until 29 April this year, but will not be putting themselves forward for re-election.
FBD reported full-year net losses before tax of €85m, while recording underwriting losses of €113.8m for the year.
The losses were mainly driven by the development of prior-year claims of €96m – €88m of this had been reported in the first half of 2015.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
After 20 years as chairman of FBD, Michael Berkery indicated his intention to retire from the board in 2017. Despite record losses last year, Berkery described the FBD Group he leaves behind today as a “more streamlined business” than at any time since he was chairman.
The announcement comes as part of a wider shakeup of the FBD board structure.
The current structure, where there are two separate boards, one for FBD Insurance and one for FBD Holdings, will be revamped with a single board.
As part of the new-look board structure, FBD announced that current board members Emer Daly, Eddie Downey, Bríd Horan and Ruairí O’Flynn will continue in office until 29 April this year, but will not be putting themselves forward for re-election.
FBD reported full-year net losses before tax of €85m, while recording underwriting losses of €113.8m for the year.
The losses were mainly driven by the development of prior-year claims of €96m – €88m of this had been reported in the first half of 2015.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS