FBD signals expansion into urban market with first Dublin office

FBD Insurance has opened its first local sales office in Dublin, signalling an expansion into the urban market.

The firm, which traditionally specialises in providing protection for rural SMEs, has added an office in Drumcondra to its network of 33 sales offices in the Republic.

A spokesman said the expansion into the capital was part of a measured strategy to chase more urban business, suggesting further offices in the city was a distinct possibility.

With strong relationships with the Irish business sector, particularly with SMEs, the company said it had further plans for growth “in this underserved and highly important sector of the Irish economy”.

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FBD is the State’s largest indigenous insurer and the only publicly-listed insurer. Last year it made a pretax profit of €11.4 million.

"This is a significant investment in both our sales office branch network and in our customer relationships," chief executive Fiona Muldoon said.

“ Face to face is how we believe our commercial customers want to do business with us. FBD is committed to the small business sector as a vital sector of the Irish economy whose insurance needs we know and understand,” she said.

Opening the Drumcondra office, Minister for Finance Paschal Donohue said the move was great news not only for local business people but also for consumers. " It also demonstrates the attractiveness of Drumcondra as a base for businesses of all sizes," he said.