FBD Holdings - Solvency ratio of 126% is towards the upper end of target range

Davy Research
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FBD has reported that its Solvency II Coverage Ratio (SCR) was 126% at a group level (127% in the insurance subsidiary) at the end of 2016. While below peer levels, the ratio is towards the upper end of FBD’s target range of 110-130%. We await further detail on its composition to allow us to quantify the absolute buffer above the minimum required.