Stock · Euronext Dublin
Should you buy FBD Holdings stock?
A leading Irish general insurer with strong capital, a high dividend and a low multiple. But it is a small, cyclical insurance stock with thin liquidity. Here is our rating and how to buy it.
Key points
- Euronext Dublin: FBD. Small-cap Irish insurer, held in an ordinary brokerage account.
- 2024 revenue €441m (+10%), pre-tax profit €77m (-5.3%), return on equity 14%.
- Low valuation (P/E ≈ 7.0), strong solvency (204% post-dividend) and a high dividend.
- Small, cyclical insurer: results depend on claims, the combined ratio and investment returns.
01Our review
FBD Holdings at a glance
FBD Holdings is a leading player in the Irish general insurance sector, specialising in property and casualty cover with particular strength in the agricultural, SME and personal markets. The 2024 results showed revenue of about €441m (+10% versus 2023), pre-tax profit of roughly €77m (-5.3%), a return on equity of 14% and a solvency ratio of 204% after dividends. The combined ratio rose to 85% (from 80.9% in 2023), meaning underwriting profitability eased slightly, while investment returns added about €45m (a 4% return). It is a defensively positioned, well-capitalised business with consistent shareholder distributions, but it is also a small-cap with a low share turnover, so results swing with claims experience, the combined ratio and investment returns.
Strengths
- Leading Irish general insurer: strength in agricultural, SME and personal cover.
- Strong balance sheet: solvency ratio of 204% after dividends.
- High shareholder returns: a large per-share dividend and a low P/E (≈ 7.0).
- Defensive positioning: 2024 revenue grew about 10% with a 14% return on equity.
Watch-outs
- Small and cyclical: results swing with claims, the combined ratio and investment returns.
- Deteriorating underwriting: combined ratio rose to 85% from 80.9%, and pre-tax profit fell 5.3%.
02Snapshot
FBD Holdings in brief
Fundamentals verified as of 22 July 2026.
04Our verdict
Our verdict, backed by sources
Well-capitalised small-cap insurer
A leading Irish general insurer with strong capital, a high dividend and a low multiple, but a small, cyclical business with thin liquidity and slightly softer 2024 underwriting. A niche holding for income and value investors who accept small-cap risk and size it modestly.
This is analysis, not advice. The bull case: FBD is a leading Irish general insurer with a strong balance sheet (solvency 204%), 2024 revenue up about 10% to €441m, a 14% return on equity and generous shareholder distributions, all on a low P/E of roughly 7.0.
The bear case: it is a small, cyclical insurer. Underwriting eased in 2024 (combined ratio up to 85% from 80.9%, pre-tax profit down 5.3%), results depend on claims and investment returns, and thin liquidity can make the shares volatile on modest volume.
Our take: a well-run, well-capitalised niche insurer that suits income and value investors who accept small-cap risk. Size it modestly. As always, no invented price target.
05Get started
How to buy FBD Holdings stock
Two routes, both from regulated brokers. A broker comparison is further down.
Cash / spot
Buy the real share (cash)
You own the share and collect the dividend. Cost is a small commission per order; there is no FX fee for an Irish investor, since it trades in EUR. With a small-cap, mind the spread and use limit orders. Irish residents typically pay capital gains tax on gains and income tax on dividends: check your own situation with a broker or adviser.
CFD (leveraged)
Trade via CFD (leverage)
A CFD tracks the price with leverage that amplifies gains and losses; costs are the spread plus overnight financing. Thin small-cap liquidity makes CFDs riskier here. Short-term, risk-aware traders only; most retail CFD accounts lose money.
For long-term investors, buying the real share in an ordinary brokerage account is simplest. Compare brokers on Irish/Euronext commissions below.
06Playbook
6 practical tips for buying FBD Holdings
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Mind the liquidity
As a small-cap, the spread matters; use limit orders rather than market orders.
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Watch the combined ratio
Underwriting profit turns on claims; the ratio rose to 85% in 2024.
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Value the balance sheet
A 204% solvency ratio underpins the dividend, but capital can be called on in bad claims years.
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Mind Irish tax
Check how capital gains and dividends are taxed in your situation.
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Treat the yield with care
The source page showed a wide yield range; confirm the current figure before relying on it.
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Keep the position small
Small-cap cyclicality justifies a modest position in a diversified portfolio.
08Where to invest
Where to buy FBD Holdings stock
For FBD, prioritise low commissions on Irish and Euronext listings and tight execution on a small-cap. Compare regulated brokers side by side.
Compare brokers for stocksFBD Holdings stock FAQ
- Yes. The page snapshot showed a dividend of 100c per share paid on 26 June 2025. The page displayed the yield as a wide range, so confirm the current figure before relying on it.
- Irish residents generally pay capital gains tax on realised gains and income tax on dividends. The effective burden depends on your situation and account type: verify with a broker or adviser.
- It is a small, cyclical insurer with thin liquidity, so the price can move on modest volume and results swing with claims and investment returns. Its strong solvency (204%) is a mitigant, not a guarantee.
- We don't publish one. We refuse to invent a figure or a fake consensus. When a credible, sourced analyst consensus exists we may cite it with its date; otherwise we say we don't have one.
Why trust HelloBrokers on this
Independent editorial team. We are not paid by FBD, and we don't publish invented price targets or a fake bank consensus. Ratings follow our methodology; broker referrals (disclosed on each page) fund our work and never change our verdict.
This content is for information only and is not investment advice, a recommendation or a solicitation. Past performance does not predict future returns. Investing carries a risk of capital loss; CFDs amplify that risk. Do your own research and consider professional advice before investing.