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FBD Holdings plc

FBD Holdings plc. 2007 Interim Results. August 2007. A. 2007 Interim Results. Forward Looking Statements.

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FBD Holdings plc

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  1. FBD Holdings plc 2007 Interim Results August 2007 A.

  2. 2007 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. 2007 Interim Results

  4. 2007 Interim Results ………. Founded in 1970 ………. Stock Exchange, 1989 ………. Insurance Underwriting (Property/Casualty) ………. Leisure/Property Development ………. Financial Services ……… “TSR” 46% p.a., last 5 years ………. Shareholders, customers, staff ………. Maximising shareholder value • Indigenous Irish company • Primary Business • Other Interests • Excellent growth record • Committed to • Key Business Driver

  5. 2007 Interim Results • Mission Statement “In our target markets, to be the leading customer focused insurance group, delivering long term sustainable value.”

  6. 2007 Interim Results Operational Highlights: H1 2007 Underwriting • Strong new business volumes offset reduced premium rates • Premium income ahead of 2006 • Policy count up 3% on December 2006 • Business Support Centre (“BSC”) commenced operations in February 2007 - 90 FTE staff - 12,500 phone calls on average per week - Phone traffic to 12 offices migrated to BSC - Branch staff freed up to focus on sales • Progress in Dublin market maintained • Platform for business growth enhanced….. technology based efficiencies advanced

  7. 2007 Interim Results Operational Highlights: H1 2007 Non-Underwriting – Leisure/Property Development La Cala • Property handovers ahead of comparable 2006 period • Improved trading in hotel and golf activities Sunset • Excellent performance • Record visitor numbers Tower • Visitor numbers up – improved trading

  8. 2007 Interim Results Operational Highlights: H1 2007 Non Underwriting – Financial Services FBD Life • Continued strong growth FBD Brokers • Maintained performance Capital Fund • Balance in fund reduced arising from decision to return capital ………. Customer and product opportunities exploited ………. In highly competitive environment ……….Remaining fund impacted by weak equity markets

  9. 2007 Interim Results Operational Highlights: H1 2007 (contd) Corporate • Capital Management • €176m of capital distributed to shareholders on 27th June 2007 • Flexible capital return mechanism devised to maximise returns for all shareholders • Buy back of 957,000 shares in June 2007 for €31.1m • Organisation • Management capacity enhanced by key appointments • Formation of dedicated strategic developments unit

  10. 2007 Interim Results Financial Highlights

  11. 2007 Interim Results Financial Highlights (contd)

  12. 2007 Interim Results Income Statement

  13. 2007 Interim Results Income Statement (contd)

  14. 2007 Interim Results Income Statement (contd)

  15. 2007 Interim Results Balance Sheet - Assets

  16. 2007 Interim Results Balance Sheet - Liabilities

  17. 2007 Interim Results Reconciliation of Movement in Shareholders’ Funds

  18. 2007 Interim Results Cash Flow Statement

  19. 2007 Interim Results Return on Equity

  20. 2007 Interim Results Market Shares Gross Written Premium – 2006 (IIF) Total Market 2006 - €3,822m: 2005 - €3,841m: 2004 - €3,933m : 2003 - €4,239m: 2002 - €3,955m FBD Premium 2006 - €407m: 2005 - €389m: 2004 - €351m: 2003 - €369m: 2002 - €326m

  21. 2007 Interim Results Outlook Group • Expect to achieve analysts’ full year operating earnings forecast Underwriting • Insurers expect price competition to abate • Further reductions in premium only justifiable if progress on claims reform agenda sustained • Further improvement in claims environment possible • Confident that we will continue to grow our customer base • Ongoing investment in our operational platform will deliver growth - Business Support Centre - Technology enhancements programme - New strategic developments unit

  22. Outlook Non-Underwriting Leisure/Leisure Property Development Businesses on course to deliver performances ahead of 2006 Anticipate regional planning approval necessary to trigger La Cala Tranche II €80m land sale payment in H1 2008 Financial Services Businesses on course to deliver performances ahead of 2006 Continued growth in investment/life product sales 2007 Interim Results 22

  23. Outlook Capital Efficient capital management will continue Repatriations of €472m since March 2005 evidence of attention to capital management Growth in dividend/earnings payout ratio to be maintained 2007 Interim Results 23

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