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FBD Holdings plc

FBD Holdings plc. 2008 Interim Results. 2008 Interim Results. Forward Looking Statements.

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FBD Holdings plc

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  1. FBD Holdings plc 2008 Interim Results

  2. 2008 Interim Results Forward Looking Statements This presentation contains certain forward-looking statements. Actual results may differ materially from those projected or implied in such forward-looking statements. Such forward-looking information involves risks and uncertainties that could affect expected results.

  3. Contents

  4. H1 2008 Highlights - Underwriting FBD now 3rd largest non-life insurer in Irish market 2008 Interim Results 4

  5. Market Shares Gross Written Premium – 2007 Total Market 2007 -€3,604m: 2006 - €3,822m: 2005 - €3,841m: 2004 - €3,933m : 2003 - €4,239m: 2002 - €3,955m FBD Premium 2007 - €408m: 2006 - €407m: 2005 - €389m: 2004 - €351m: 2003 - €369m: 2002 - €326m 5

  6. H1 2008 Highlights - Underwriting FBD now 3rd largest non-life insurer in Irish market Top Line Performance Growth of recent years consolidated Strong new business volumes Retention impacted by unrealistic pricing of certain competitors Underwriting discipline maintained Excellent outcome in a competitive market Support Centre Aim – cost efficient and customer centric delivery and service of personal lines 165 FTE staff 21,000 calls per week 27 branch offices “migrated” 2008 Interim Results 6

  7. H1 2008 Highlights - Underwriting Business developments “No Nonsense” car insurance launched via Ryanair website Aimed at price-conscious/no frills customer Take up in line with expectations Builds platform for other distribution activities E-Commerce car insurance proposition brought to launch stage Pilot of commercial business via intermediaries Branch network aligned to exploit commercial opportunities - Athlone - Newbridge “Enhancing our business platform and creating capacity to extend our reach by meeting customer needs, cost effectively” 2008 Interim Results 7

  8. H1 2008 Highlights - Underwriting Investments Continued de-risking of balance sheet 2008 Interim Results 8

  9. H1 2008 Highlights – Non Underwriting La Cala Market environment for property sales challenging Focus on costs Sunset Excellent performance Record revenue and visitor numbers Tower Revenue ahead of 2007 Oversupply in certain market segments Financial Services Contribution from FBD Brokers maintained Reduced customer appetite for retail investment products due to volatile markets Capital Fund Converted to cash 2008 Interim Results 9

  10. H1 2008 Highlights – Corporate Capital Management 10% increase in interim dividend Remain committed to efficient capital management and maximising shareholder returns March 08 – Stated intention of returning €94.2m to shareholders Board reconsidered decision in light of market conditions Decision made to distribute €1.50 per share (€49.8m) in Oct 08 Retain flexibility to repatriate further capital to shareholders subject to market conditions 2008 Interim Results 10

  11. 2008 Interim Results Income Statement

  12. 2008 Interim Results Income Statement (contd)

  13. 2008 Interim Results Income Statement (contd)

  14. 2008 Interim Results Balance Sheet - Assets

  15. 2008 Interim Results Balance Sheet - Liabilities

  16. 2008 Interim Results Statement of Changes in Equity

  17. 2008 Interim Results Cash Flow Statement

  18. 2008 Interim Results Return on Equity

  19. 2008 Interim Results Outlook : Underwriting • Market premiums in certain lines unrealistic • Steady increase in claims costs • Severe weather in July / August 2008 • Impact FBD • Impact Industry • Increasing evidence of stabilising rates

  20. Outlook : Underwriting (contd) Combined ratios reported in market signal hardening market in near future FBD well positioned to benefit from hardening market Initiatives in progress Internet car insurance offering launch in early September – home insurance before year end Metro markets Enhancing Support Centre delivery 2008 Interim Results 20

  21. Outlook : Non Underwriting Leisure/Leisure Property Development Market conditions will continue to be challenging Marketing/sales initiatives countering market conditions Management focused on operational efficiencies La Cala Land Sale Delivery of planning achievable Financial Services Focus on deposit and protection products Consolidate customer relationships 2008 Interim Results 21

  22. Outlook : Corporate Capital Maximising returns via efficient capital management Progressive dividend policy to continue Repatriation since March 2005 now total €546m. (excl. ordinary dividends) 2008 Interim Results 22

  23. FBD Holdings plc 2008 Interim Results QUESTIONS? A.

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