Shareholders at FBD plc’s annual general meeting voting overwhelmingly in favour of a proposal to end trading of its shares on the London Stock Exchange.

Following the vote, the last day of trading of shares in London will be 7 June, with the cancellation of the listing occurring on 10 June.

FBD CEO Tomás Ó Midheach told the Irish Farmers Journal that the level of trading of the company’s shares in London did not warrant the administrative burden and the cost of maintaining the listing.

FBD chief financial officer Kate Tobin added that the separate listing in the UK posed risks from a regulatory divergence perspective should the UK move away from EU stock market rules.

Ó Midheach gave an update on the insurer’s performance so far for 2024, saying that “momentum is strongly established” in its growth in written premiums.


He welcomed the certainty from the recent Supreme Court decision on personal injuries claims, but expressed doubts that it would lead to significant cost reductions for most policyholders.

He said that FBD had already passed the majority of potential savings on personal injuries on to policyholders, while also making the point that many insurance policies would only have a small proportion of the total cover made up of injury cover.

On the outlook for the firm, he sees a decision being made around the time of the half-year results on whether or not to pay another special dividend.

FBD has a solvency capital ratio of 213%, well above its 170% target, meaning it has significant extra capital.


Ó Midheach said “it is not our aim to hold on to that surplus”, but would not be drawn on whether that would be given back to shareholders mid-year or whether it would be used for other expenditure around growth.

He did say that FBD wanted to ensure that the company could sustain the annual dividend payout over the coming years.

FBD chair Liam Herlihy confirmed that he will remain in his position until next year’s annual general meeting, at which he will not seek re-election, having completed the maximum term in the position.