FBD Group 2018
FBD Group FBD Group FBD Group FBD Group
FBD Group 2018

Strategy

FBD was established in the 1960s by farmers for farmers. We have built on our
roots in agriculture to become a leading insurer in Ireland serving the needs of
Farmers, Businesses and Retail customers.

FBD of 2028

A digitally enabled, data enriched organisation which delivers an excellent customer and employee experience, while also delivering for our stakeholders.

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1. Our customer: we have a complete picture of them, understand them and deliver a proposition they value.

2. Wider society & ESG: we are recognised as the local insurer, supporting and sustaining our local communities. Delivering on our sustainability commitments and supporting our customers in theirs.

3. Our people: foster individual and organisational effectiveness.

4. Delivering measured profitable growth: through a sharp focus on value, growth and innovation.

Our Strategy is Delivering

Based on FBD full year results 2023.

Robust Franchise

Providing our customers with a valued proposition

Consistently excellent retention levels

Market Leader in Farmers insurance

Relating to customers directly with informed advice

Growing

Delivering measured profitable growth through relationship strategy

Farmer average customer policy holding up from 3.2 to 3.4 policies

Business up from 2.1 to 2.2

Partnerships established and delivering

Return

€143m capital returned since 2022

3rd year of double-digit ROE (15%+ ave.)

Focus on annual dividend sustainability while maintaining a robust capital position

Well Capitalised

Solvency Capital ratio of 213% (unaudited) after ordinary dividend and share repurchase

Investment Strategy matched with liabilities

SCR Risk Appetite 150%-170%

Intent is to move closer to target SCR





Further information on the FBD strategy

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  • Customer relationship strengthening
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  • Measure through a customer lens
  • Segment and understand our customer and business
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  • Create capacity
  • Enhance customer and employee experience
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  • A proposition our customers are willing to pay for and stay for. One that delivers a sustainable margin for FBD.
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  • Foster individual and organisation effectiveness
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  • Understand our customers better
  • Enhance our customer and employee experience
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  • Enhance our claims proposition & continue to differentiate at the key moment of truth
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  • Delivering on our sustainability commitments and supporting our customers in theirs
FBD Group 2018