Storms set to cost insurer €4m-€5m in claims

December’s stormy weather is set to cost leading insurer FBD between €4m and €5m in additional claims.

The company said yesterday that this will reduce both its basic and operating earnings per share for last year by 10%-13%.

In November, the group guided for full-year operating earnings per share of between 145c and 155c, based on the assumption that previously seen large claims trends would revert to more normal levels and the remainder of the year would not see any “exceptional weather events”.