Bad weather sees FBD profit slump €4.5m

Insurance customers are set to foot the bill for difficult market conditions last year which cost insurer FBD badly and saw it post a €4.5m pre-tax loss.

Motor and liability premiums will see the biggest increases — potentially double-digit gains — as the Irish insurer looks to make up for higher claims costs and poor weather conditions that hit its performance last year.

The worst weather conditions in FBD’s existence eroded its profitability and led to an extremely difficult 2014 for the insurer which is likely to be replicated over the coming year, said chief executive Andrew Langford.