FBD Holdings has reported a net loss before tax of €85m for last year - this is a significant increase on the €3m loss reported in 2014.

The company described the year as "exceptionally difficult," as it was weighed down by claims of €96m from the previous year, but business stabilised in the second half of the year.

Excluding exceptional items, the company returned a loss of €101.7m - with €96.4m recorded during the first six months, and €5.3m during the remainder of 2015.

It says that cost savings of €8m kicked in from the start of this year.

Full year average premium rates increased by 9% - while policy volumes also fell by 9%.

FBD Holdings' group chief executive Fiona Muldoon commented on the results: "Court award levels are at an all-time high. We will work with the industry and the government to tackle the cost of claims for the benefit of all our customers. We urge the next government to make dealing with this a priority."