FBD: Property insurance to rise

THE heavy flooding on the east coast is unlikely to cost insurance giant, FBD more than €6 million, but the company warned that it’s likely to result in increased property insurance rates.

In all, the damage from the floods that hit parts of Leinster in October is estimated to cost the industry between €125m and €150m.

In its latest trading update, FBD said yesterday that its capital base and balance sheet remain strong, adding that it will continue to focus on efficiency and productivity improvements to maintain its competitive cost structure.