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2008 Highlights Operational Growth in Market Share Premium rates hardening Cost improvements and claims initiatives Internet developments Realignment of local offices Financial Solid trading performance Adjusted operating profit of €65.8m Operating contributions from all divisions Continued de-risking of balance sheet Loss net of valuation adjustments Continuing Growth in Market Share Market share up from 11.3% to 11.6% Sustainable growth from core markets Increasing Dublin penetration Eighth consecutive year of growth Third largest non-life insurer in Ireland Market share growth validates rate increases Underwriting discipline maintained Excellent result in competitive market Premium Pricing Claims Trends Claims ratio up from 68.2% to 79.1% Unusual weather events in August 2008 Higher property related claims – persistent poor weather Risk of increase in “recessionary” claims Distribution Platform Changing FBD.ie NoNonsense.ie Broker Initiatives Metro Markets Financial Highlights Solid trading performance - €65.8m Lower Long term return Loss net of valuation adjustments Continued de-risking of balance sheet Strong capital base Final dividend of 10c per share Positive claims run-off Income Statement Dividend Policy FBD is committed to a robust capital position and well-managed balance sheet Given market uncertainty it is appropriate to be prudent at this time Recommended final 2008 dividend of 10c Total 2008 dividend of 40.25c 25% payout ratio, same as 2007 Proposition Robust underwriting business Positive operating leverage as prices rise Appropriate plans, people and infrastructure Growing market share, profitably Quality portfolio of property leisure businesses Strong capital base and balance sheet Prudent reserving policy Continued de-risking of balance sheet * FBD Holdings plc 2008 Preliminary Results March 2009 * Forward Looking Statements This presentation contains certain forward-looking statements. Actual results may differ materi