FBD Holdings PLC Friday reported a surge in its half-year profit.

In the six months to June 30, the Dublin-based insurer said pretax profit soared to €39.9 million from €2.5 million a year prior, partly driven by a 4.5% growth in insurance revenue to $194.5 million from $186.1 million a year ago.

Net insurance and investment result grew sharply to €71.7 million from €24.0 million.

FBD added it approved a special dividend of 100 US cents per share.

Looking ahead, FBD said it expects to ‘continue on a solid growth path’.

Chief Executive Officer Tomas O Midheach said: ‘We have demonstrated that our relationship focus strategy is delivering and our evolving strategy to firmly position FBD for the future to become a digitally enabled, data enriched organisation delivering an excellent customer and employee experience, is firmly on track.’

Shares in FBD were trading flat at €12.95 each in London on Friday morning.

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