Storms cost FBD insurers €7.8m

The destruction wrought upon Ireland by the winter storms will cost FBD insurers €7.8m in claims according to the company’s interim management statement.

The statement filed with the stock exchange yesterday morning said that the bad weather had in resulted in a surge in claims during January and February.

“The unprecedented persistent bad weather during January and February will lead to an increase in the cost of 2014 claims and the windstorm that hit Ireland on 12 February is likely to cost FBD €7.8m, net of reinsurance,” the interim management statement read.