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FBD Holdings plc 2026 Half Year Results 7th August 2026 FBD INSURANCE SUPPORT . FBD INSURANCE IT'S WHAT WE DO . FBD BLAZ 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 . FBD FE Investors in Diversity FBD GOLD FBO SEMPLE STADIUM FBD INSURANCE FBD SEMPLE STADIUM PROSTANDS FOR SU SUPPORT , HAT WE DO FBD
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Agenda Overview Tomás Ó Midheach, CEO Financial Performance Kate Tobin, CFO Conclusion Tomás Ó Midheach, CEO Appendix Glossary Contact Details 2026 HALF YEAR RESULTS
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Overview Tomás Ó Midheach, CEO 2026 HALF YEAR RESULTS
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Half Year 2026 At a Glance 3 €258m Gross Written Premium (+4%) €43m Profit Before Tax 75c Special Dividend Approved 203% SCR Post Dividend 85.3% Reported COR
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Strongly Capitalised 197% 214% 226% 213% 197% 201% 203% FY2020 FY2021 FY2022 FY2023 FY 2024 FY 2025 HY 2026 Green = SCR Gain Amber = Capital Return SCR% Robust Franchise • Continued profitable growth in a challenging market • Customer policy ratio holding steady • 90% retention over 2022 - 2026 while maintaining margin 4 Strategy continues to deliver Relationship focus delivering strong returns with predictable yields Continuing to Grow GWP Growth GWP & Policy count growth in 2021-2023 excludes legacy scheme €184m €258m 251k 288k +40% +15% Policy Count Growth Shareholder Value creation & Since 2022, €319m capital returned
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€258m Gross Written Premium • Up 4% on HY 2025 • Farmer up €9m • Good traction on direct Business and Retail • Average premium up 3.4%; 2.5% relates to increased cover 5 Shareholder value underpinned by profitable growth with relationship customers €43m Profit Before Tax • Underwriting Result €37m (HY 2025: €14m) • Underwriting discipline continues to deliver • Reported COR 85.3% (HY 2025: 94.2%) • €8m favourable PYD (HY 2025: €13m) • Investment return of €16m (HY 2025: €13m) Shareholder Value Creation • Special Dividend of 75c approved • SCR 203% • ROE 16%; ROTE 21% (both annualised) • Dividend yield 10% (30 Jun 2026) • Net Asset Value 1,335 (FY 2025: 1,320c) Customer Focused Strategy • Focus on relationships delivering consistently strong retention levels • Long-standing relationships supported by the strength of our branch network • Doing more business with more customers than ever before • Customer policy ratio holding steady with increased cover
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Kate Tobin, CFO Financial Performance 2026 HALF YEAR RESULTS
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2026 Half Year Results 7 HY2026 HY2025 Change GWP €258m €249m +€9m Underwriting result €37m €14m +€23m Investment return €16m €13m +€3m Unwind of discounting -€5m -€5m - Finance and other Group costs -€5m -€5m - Profit before tax €43m €17m +€26m HY2026 HY2025 Change EPS 106c 41c +65c NAV 1,335c 1,308c +27c ROE (annualised) 16% 6% +10% HY2026 HY2025 Change Loss ratio 57.9% 66.6% -8.7% Expense ratio 27.4% 27.6% -0.2% Combined Operating Ratio 85.3% 94.2% -8.9% Total investment return 1.4% 1.9% -0.5% • Income statement 1.3% 1.2% +0.1% • OCI 0.1% 0.7% -0.6% Strong investment performance. Income from bond portfolios continues to increase Profit before tax supported by growth with relationship customers and strong underwriting and investment performance Combined Operating Ratio (COR) reflects strong underwriting performance, supported by favourable weather experience and prior year reserve development 1 2 3 3 2 1
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HY 2026 Income Statement summary 8 Income Statement HY2026 HY2025 Change Insurance revenue €253m €235m +€18m Insurance service expenses -€189m -€257m +€68m Net income/(expense) from reinsurance contracts held -€3m +€58m -€61m Insurance service result €61m €36m +€25m Investment return €16m €13m +€3m Net insurance finance expenses -€5m -€5m - Net insurance and investment result €72m €44m +€28m Non-attributable expenses -€21m -€20m -€1m Finance costs, other provisions -€8m -€7m -€1m Profit before taxation €43m €17m +€26m 1 2 Insurance service result reflects strong underwriting performance, supported by favourable weather experience and prior year reserve development Income Statement investment return reflects increasing returns from bond portfolios 1 2
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Analysis of Combined Operating Ratio 9 HY2026 HY2025 Current Service Combined Operating Ratio 92.2% 103.4% Past Service Combined Operating Ratio -6.9% -9.2% Reported Combined Operating Ratio 85.3% 94.2% Undiscounted Combined Operating Ratio 88.0% 96.7% 1 2 Current Service COR is strong and reflects continued underwriting and pricing discipline Past Service COR benefitted from favourable development on prior year claims of €7.7m 1 2
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Best Estimate Claims Reserve Development 10 Note: The above graphs include EL, PL and Motor Accident Years (“AY”) only YE 2022 YE 2023 YE 2023 YE 2024 YE 2024 YE 2024 YE 2025 YE 2025 YE 2025 YE 2025 HY 2026 HY 2026 HY 2026 HY 2026 HY 2026 Evolution of AY 2022 Evolution of AY 2023 Evolution of AY 2024 Evolution of AY 2025 Evolution of AY 2026 • Net positive prior year reserve development during H1 2026 • More recent accident years impacted by an observed increase in injury awards in recent years • We continue to allow for expectations for future injury claims inflation in the reserves
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Strong investment return with continued growth in bond income OCI return positive 0.1% Cash, Fixed Income and Risk Assets: • Income from bond portfolios continues to increase as maturities and additional allocations invested at higher yields • Bond income excluding realised losses increased to €10.0m (1.1% return) from €7.8m (0.9% return) • €5.4m return from risk assets with equities and private markets generating strong returns • Cash contributed €1.2m, declining due to reduced allocation and lower rates Income Statement return stable 1.3% equates to €15.7m Corporate and Sovereign Bonds: • Pull-to-par effect on bonds with unrealised losses and unrealised gains on recent purchases contributing • Risk-free rates representing our portfolio duration increased in H1 2026 offsetting some of the positive OCI return • €11m unrealised loss on bond portfolios will unwind over the remaining life as held to maturity 11
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Investment Income Analysis H1 2026 vs H1 2025 Income Statement returns (€’000s) H1 2026 vs H1 2025 12 1.3% 1.2% 5.2% 0.8% 1.0% 1.2% 1.0% 4.1% 0.6% 1.3% -2,000 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 Total Corporate Bond Income Risk Assets Government Bond Income Cash Investment Property Bond realised gains/losses Expenses H1 2026 H1 2025 • Bond income increased in 2026 as maturities reinvested at higher rates, increased allocations and book yield enhancement trading to capitalise on the increase in market yields • Corporate Bond portfolio average duration 3.1 years • Government Bond portfolio average duration 4.6 years Returns on Cash moderating due to lower allocations and ECB rate cuts last year * Realised bond losses in 2025 and 2026 due to book yield enhancement trading Despite volatility, all 2026 Risk Asset class returns positive
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Investment Allocation Changes to investment allocation since Dec 2025 13 57%24% 8% 10%1% Jun 2026 30-Jun-26 31-Dec-25 Corporate Bonds €672m €644m Government Bonds €286m €258m Cash €96m €149m Risk Assets €111m €106m Investment Property €11m €11m Total €1,176m €1,168m €40m €148m €171m €142m €448m 0.7% 1.1% 1.4% 2.6% 3.2% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 0 50,000,000 100,000,000 150,000,000 200,000,000 250,000,000 300,000,000 350,000,000 400,000,000 450,000,000 500,000,000 H2 2026 2027 2028 2029 2030+ Corporate Bonds Sovereign Bonds Book Yield Bond maturity and book yield profile by (maturity) year €42.5m cash reallocated to bonds during 2026 in line with Strategic Asset Allocation Cash allocations decreased due to funding of dividend and reallocations to the bond portfolios Risk assets increased due to market valuation gains Average credit quality of A on bond portfolio Allocation to BBB rated corporate bonds stable 55% 22% 13% 9%1% Dec 2025
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Higher allocation to cash and bonds, increased predictable investment income 14 Risk Assets includes risk asset funds and investment property Cash & Bonds vs Risk Asset allocation Cash & Bond Income Statement Returns* (€’000s) 85.4% 85.7% 88.7% 89.6% 14.6% 14.3% 11.3% 10.4% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% HY 2023 HY 2024 HY 2025 HY 2026 Cash & Bonds Risk Assets 1.0% 1.7% 1.7% 2.1% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% - 2,000 4,000 6,000 8,000 10,000 12,000 HY 2023 HY 2024 HY 2025 HY 2026 Corp Bond Gov Bond Cash Annualised Return % * Includes realised losses
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Strong capital generation supporting investor returns 15 197% 214% 226% 213% 197% 201% 203% 170% 180% 190% 200% 210% 220% 230% 240% 250% 260% Five ordinary and four special dividends - €319m capital returned to investors since 2022 * Includes €4m share repurchase
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2026 HALF YEAR RESULTS Tomás Ó Midheach, CEO Conclusion
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Summary 17 Profit before tax of €43m with reported COR 85.3%. Strong underwriting and investment performance Special dividend of 75c per share. Solvency Capital Ratio 203% after special dividend. SCR Risk Appetite 150%-170% FBD is a resilient and growing business, that continues to deliver for all stakeholders Focus remains on dividend sustainability while maintaining a strong capital position with a firm intention to move closer to target capital levels over time Maintained guidance: Combined Operating Ratio low 90s achievable for the full year 2026
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2026 HALF YEAR RESULTS Appendix
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FBD, Our Strategy 19 A digitally enabled, data enriched organisation which delivers an excellent customer and employee experience DATA & TECHNOLOGY TEAMS & COLLABORATION OUR CUSTOMERS are at the heart of what we do STRATEGIC AMBITION Our Customers We have a complete picture of them, understand them and deliver a proposition they value Wider Society & ESG We are recognised as the Irish insurer supporting local communities. Delivering on our sustainability commitments and supporting our customers in theirs Our People Foster individual and organisational effectiveness Delivering Measured Profitable Growth Through a sharp focus on value, growth & capital management Continuous Improvement Be better tomorrow than we are today. Create capacity while enhancing our customer and employee experienceOur Regulator Wider Society & ESG Our People Our Customers Our Investors
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Strategy Evolution 20 A digitally enabled, data enriched organisation which delivers an excellent customer and employee experience Optimisation Capital efficiency; Continuous Improvement and Technology Mobilisation Customer Relationship Focus; Data Enriched and Digitally Enabled Extension Claims and ESG Evolution Value; SME Growth and Continuous Improvement 2022 2023 2024 2025 2026 Future Proofing Continuous Improvement; Finance, data & technology strategy and Exploration of further growth Our Cornerstones
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Regulatory Environment and Claims trends 21 Claims Trends • Increases experienced in Motor Accidental Damage severity in 2026 • Higher proportion of injury claims resolved at Circuit Court level and a reduction in pre- litigation costs contributed to stabilisation in average injury settlement costs • Large injury claims notified to date in 2026 are higher than the average over the past 10 years Insurance Reform • The Government's 2025-2029 Action Plan for Insurance Reform continues to advance measures aimed at improving affordability, transparency and competition, while supporting a more resilient insurance market • FBD has continued its preparations for the implementation of the voluntary Motor Insurance Transparency Code, which is designed to provide customers with clearer explanations of premium changes and rating factors, supporting greater transparency and informed decision-making • CPC 2025, effective from March 2026, delivered a modernised regulatory framework with updated protections, strengthened consumer safeguards, new standards for business, and clearer obligations on firms to prioritise customers interests Review of the Solvency II Directive • Published February 2026 and effective from January 2027 • The review entails comprehensive changes in many areas including calculation of capital requirement, governance and reporting • We currently expect the key changes affecting the calculation of FBD's Solvency Capital Requirement to be: • the revised risk margin calculation, • the inclusion of flood risk charge, • changes to the prescribed interest rate risk shocks, and • change to the Equity Symmetric Adjustment (ESA).
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Ireland & Euro Area Economic Environment -4.0 -2.0 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 Ireland Euro Area Ireland Euro Area GDP & Private Consumption YoY % 22 Source: European Commission Spring Economic Forecast 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 Ireland Euro Area Ireland Euro Area Inflation (HICP) & Unemployment Rate YoY % GDP Private Consumption Inflation (HICP) Unemployment Rate
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GWP Performance by Product 23 22% Agri 19% Commercial Business 15% Commercial Motor 12% Home 20% Private Motor 12% Tractor HY 2025 GWP Agri Commercial Business Commercial Motor Home Private Motor Tractor Policy count +0.5% Ave. premium +7.0% Policy count +1.7% Ave. premium -2.7% HY 2026 GWP Policy count -2.2% Ave. premium +1.8% Policy count +3.2% Ave. premium +5.0% Policy count +0.2% Ave. premium +2.9% Policy count +0.9% Average premium +7.2% +3.8%
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Premium Analysis Change in GWP 24 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% YOY Movement Policy Volume Average Rate Cover and Mix Total GWP Active Premium by Customer Sector HY 23 v HY 22 HY 24 v HY 23 HY 25 v HY 24 HY 26 v HY 25Farmer Business Retail 49% 49% 50% 51% 52% 31% 32% 30% 29% 28%20% 19% 20% 20% 20% 0 50 100 150 200 250 300 350 400 450 500 2022 2023 2024 2025 Jun-26 €m
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25 Total return to shareholders €7.75 paid in dividends per share since 2021 70.00 90.00 110.00 130.00 150.00 170.00 190.00 210.00 Share Price and Index Performance Jun 2021 – Jun 2026 FBD ISEQ Stoxx Europe 600 Insurance FBD share price Dec 2020 €8.92 Shown above are the performances of FBD, the ISEQ and Stoxx Europe 600 Insurance indices rebased from 30 June 2021. Average 12 month Dividend Yield on ISEQ and Stoxx Europe 600 Insurance of 2% and 5% across June 2022 – June 2026, FBD 13%
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Glossary 26 Acquisition The total of net commission and operating expenses incurred in the generation of net earned premium and often expressed as a percentage of net earned premium. The operating expenses are after the transfer of direct costs for claims settlement expenses which are included in net incurred claims expense. Best Estimate The actuary's expectation of future cost to settle all outstanding claims net of any margin for uncertainty, representing a 50% probability that the reserves are adequate to settle all future claims. Casualty Insurance Insurance that is primarily concerned with the losses resulting from injuries to third persons or their property (i.e. not the policyholder) and the resulting legal liability imposed on the insured. It includes, but is not limited to, general liability, employers’ liability, workers’ compensation, professional liability, public liability and motor liability insurance. Catastrophe Reinsurance A reinsurance contract (often in the form of excess of loss reinsurance) that, subject to specified limits and retention, compensates the ceding insurer for losses in related to an accumulation of claims resulting from a catastrophe event or series of events. Claim The amount payable under a contract of insurance or reinsurance arising from a loss relating to an insured event. Claims Handling Expense (CHE) Costs incurred in the investigation, assessment and settlement of a claim. Claims Incurred The aggregate of all claims paid during an accounting period adjusted by the change in the claims provision for that accounting period. Claims Provision The estimate of the most likely cost of settling present and future claims and associated claims adjustment expenses plus a risk margin to cover possible fluctuation of the liability. Combined Operating Ratio (“COR”) The sum of the loss ratio and expense ratio. COR provides an overall view of the Group’s underwriting and operational performance. A COR below 100% indicates underwriting profitability, while a ratio above 100% indicates underwriting losses. Deferred Acquisition Costs Acquisition costs relating to the unexpired period of risk of contracts in force at the balance sheet date which are carried forward from one accounting period to subsequent accounting periods. Directly Attributable Expenses Cash flows arising from the costs of selling, underwriting and starting a group of insurance contracts (issued or expected to be issued) that are directly attributable to the portfolio of insurance contracts to which the group belongs. Dividend Yield Ordinary plus Special Dividend per share (approved or paid) in the financial year ÷ Share Price at 31 Dec FY; 30 Jun HY Dividend payout ratio Represents the proportion of earnings paid out to investors. Dividends per share (approved or paid) in the financial year ÷ Earnings Per Share. Earnings Per Share basic (EPS) Profitability indicator. Profit after tax less preference dividends ÷ weighted average number of outstanding ordinary shares. Excess of Loss Reinsurance A form of reinsurance in which, in return for a premium, the reinsurer accepts liability for claims settled by the original insurer in excess of an agreed amount, generally subject to an upper limit. Expense Ratio Insurance acquisition expenses and non-attributable expenses as a percentage of insurance revenue. Fair Value through Other Comprehensive Income (FVOCI) Financial assets classified and measured at fair value through other comprehensive income.
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Glossary 27 General Insurance Generally used to describe non-life insurance business including property and casualty insurance. Gross Claims Incurred The amount of claims incurred during an accounting period before deducting reinsurance recoveries. Gross Earned Premium (GEP) The total premium on insurance earned by an insurer or reinsurer during a specified period on premiums underwritten in the current and previous underwriting years. Gross Written Premium (GWP) The total amount of premiums due from policyholders for insurance contracts written during a specific period, before any deductions for reinsurance. Incurred but not Reported (IBNR) Claims arising out of events that have occurred before the end of an accounting period but have not been reported to the insurer by that date. Insurance Finance Income or Expenses (IFIE) IFRS 17 permits an entity to choose to present insurance finance income or expenses either in profit or loss or disaggregated between profit or loss and OCI. This choice is made on a portfolio -by-portfolio basis. Insurance Service Result Insurance revenue less Insurance service expenses less Net expenses from reinsurance contracts held. Legacy Scheme Runoff Broker scheme for Private Motor and Home which was terminated in 2024. Long-tail Classes of insurance business involving coverage for risks where notice of a claim may not be received for many years and claims may be outstanding for more than one year before they are finally quantifiable and settled by the insurer. Loss Ratio Claims incurred net of reinsurance result as a percentage of insurance revenue. Margin for Uncertainty The margin held over and above the actuarial best estimate in order to provide greater certainty that claims reserves will be sufficient to settle all outstanding claims as they fall due. Net Asset Value (NAV) Net Asset Value is the net value of an entity's assets less its liabilities, divided by the number of shares outstanding. Net Claims Incurred The amount of claims incurred during an accounting period after deducting reinsurance recoveries. Net Claims Ratio Net claims incurred as a percentage of net earned premium. Net Earned Premium (NEP) Net written premium adjusted by the change in net unearned premium for a year. Net Investment Income Gross investment income net of foreign exchange gains and losses and investment expenses. Net Written Premium (NWP) The total premium on insurance underwritten by an insurer during a specified period after the deduction of premium applicable to reinsurance. Other Comprehensive Income (OCI) Other comprehensive income consists of revenues, expenses, gains, and losses that, under IFRS standards, are excluded from net income on the income statement. Outstanding Claims Provision The amount of provision established for claims and related claims expenses that have occurred but have not been paid. Personal Lines Insurance for individuals and families, such as private motor vehicle and homeowners insurance.
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Glossary 28 Premium Amount payable by the insured or reinsured in order to obtain insurance or reinsurance protection. Prior Year Development (PYD) Change that relate to past service (Changes in fulfilment cash flows (FCF) relating to the liability for incurred claims (LIC)). This component reflects adjustments in the present value of future cash flows (fulfilment cash flows) tied to claims already incurred but not yet settled. Changes arise from updated assumptions, experience adjustments, or interest accretion on LIC. Risk Adjustment (RA) The compensation an entity requires for bearing the uncertainty about the amount and timing of the flows that arises from non -financial risk as the entity fulfils insurance contracts. Short-tail Classes of insurance business involving coverage for risks where claims are usually known and settled within 12 months. Recoveries The amount of claims recovered from reinsurance, third parties or salvage. Reinsurance An agreement to indemnify a primary insurer by a reinsurer in consideration of a premium with respect to agreed risks insured by the primary insurer. The enterprise accepting the risk is the reinsurer and is said to accept inward reinsurance. The enterprise ceding the risks is the cedant or ceding company and is said to place outward reinsurance. Reinsurer The insurer that assumes all or part of the insurance or reinsurance liability written by another insurer. Return on Equity (ROE) Profit or loss earned by the Group after taxes and other deductions, as a percentage of the average equity held by shareholders over the reporting period Return on Targeted Equity (ROTE) Profit after Tax as a percentage of IFRS Ordinary Shareholder Funds, at the SCR Risk Appetite. Solvency Capital Requirement (SCR) Ratio Ratio of an insurance company's eligible capital (Own Funds) to its regulatory (Solvency) capital requirement. Underwriting The process of reviewing applications submitted for insurance or reinsurance coverage, deciding whether to provide all or part of the coverage requested and determining the applicable premium. Underwriting Expenses The aggregate of policy acquisition costs, and administrative, general and other expenses attributable to underwriting operations. Underwriting Result Insurance service result less non-attributable expenses and movement in other provision charges. Underwriting Year The year in which the contract of insurance commenced or was underwritten. Unearned Premium The portion of a premium representing the unexpired portion of the contract term as of a certain date. Written Premium Premiums written, whether or not earned, during a given period.
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Contact Details 29 DRURY COMMUNICATIONS Paddy Hughes +353 87 616 7811 ENQUIRIES FBD HOLDINGS PLC Fiona Meegan, Investor Relations +353 1 419 4885