Farmer Business Developments plc was established in its current form in 1988 as part of the re-organisation of the FBD Group.
However, we trace our roots back 20 years earlier to the late 1960s when members of the National Farmers’ Association set about raising capital to establish new businesses on behalf of farmers.
Their efforts resulted in over 3,000 Irish farmers and several dairy co-ops and co-op marts contributing 75% of the share capital which was used to establish FBD Insurance and other companies. The other 25% of the share capital and the expertise in insurance came from ABB, a Belgian farmers’ insurance company. Our founding chairman was Paddy O’Keeffe, then editor of the Farmers Journal.
In 1988, a corporate restructuring took place with the establishment of this company and the successful floatation on the stock market of FBD Holdings plc, which owns FBD Insurance. FBD Insurance is an indigenous Irish organisation with over 50 years insurance experience and has grown into one of the country’s largest property and casualty insurers with over 500,000 loyal and satisfied customers.
Our shareholders take great pride in the fact that through their original investment they founded FBD Insurance, which is the main business of the quoted company, FBD Holdings plc. Our 24.3% stake in FBD Holdings plc remains the largest single shareholding in this quoted company.
The success and development of the FBD Group over the years has been of immense benefit to this company, our original shareholders and their successors.
Since 2006, we have further diversified our investments to include an interest in development land adjacent to the new Berlin Airport, as well as some funds, equities and private equity investments.
In October 2015, we acquired full ownership of FBD Property & Leisure Ltd (trading as FBD Hotels & Resorts), in which we had a 50:50 joint venture with FBD Holdings plc.