June 24, 2020 / 2:08 PM / 16 days ago

BRIEF-FBD Makes Precautionary Reserve Of 22 Mln Euros To Cover Potential Costs

June 24 (Reuters) - FBD Holdings PLC:

* FBD HOLDINGS PLC - FBD HAS DECIDED NOT TO PROCEED AT THIS TIME WITH PROPOSED DIVIDEND PAYMENT FOR 2019 FINANCIAL YEAR

* FBD HOLDINGS PLC - SOLVENCY OF GROUP REMAINS ROBUST AND IS CURRENTLY ESTIMATED AT 178% EVEN WHILE CONTINUING TO DEDUCT 2019 DIVIDEND

* FBD HOLDINGS PLC - IN PROCESS OF REFUNDING MOTOR CUSTOMERS AS A RESULT OF REDUCED CAR USAGE DURING COVID 19 LOCKDOWN

* FBD HOLDINGS PLC - MOTOR REFUNDS WILL COST FBD APPROXIMATELY EUR 7M

* FBD HOLDINGS PLC - EXPECT COMMERCIAL REFUNDS TO BE AN ADDITIONAL EUR 7M APPROXIMATELY

* FBD HOLDINGS PLC - IN FIVE MONTHS TO 31(ST) MAY 2020 GWP IS 3% LOWER THAN SAME PERIOD IN 2019

* FBD HOLDINGS - PRECAUTIONARY RESERVE OF EUR22M MADE TO COVER COSTS MAY BE INCURRED, TO BE INCLUDED IN CLAIMS COSTS IN FY RESULTS Source text for Eikon: Further company coverage:

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