Winter storms won’t lead to home insurance rise

Last February’s storms knocked winded insurance companies to the tune of €110m, according to latest calculations.

It brings the total cost of claims for damage to property from the worst of last winter’s weather, including December and January’s extensive floods, to €156m.

FBD Insurance alone took a €44m hit, prompting a warning to shareholders that it was forecasting a drop in earnings to the end of the year.