It seems there is no stopping the recovery in the FBD share price as better risk selection and improved pricing boost performance. And it is also helping to boost the balance sheet of its founding co-op, Farmer Business Developments, and the IFA, which holds significant shareholdings in the group. Shares in FBD are up more than 50% in the past year and touched off three-year highs of €10.15 this week.

The market value of FBD has soared by more than €114m in the last 12 months. As the largest shareholder in the insurer, with 24.6%, Farmer Business Development’s investment is now worth €28m more than this time last year. Similarly the IFA, which holds 1.5% of FBD Insurance, is up to the tune of €1.7m.