The chairman of FBD said today he was confident that the company would fulfil its full year's earnings expectations.
In a statement issued in Dublin today, chairman Michael Berkery said that despite intense competition in all areas of business, the company's growth had continued in 2006.
Net earnings for 2006 were €246.8 million, due largely to the sale of property in Spain and significant returns on the property portfolio of the company.
Shareholders' funds increased to €497.5 million, after repatriations to shareholders totalling €207 million, consisting of €77.8 million in dividends and €129.2 million in a share buyback.
FBD is now the fourth largest general insurer in the Irish market.
The company sold a major portion of development land owed by the group at La Scala resort in Spain last August. This sale resulted in a net profit of €90 million, €55 million of which was distributed among shareholders in a special dividend.
