January bad weather to cost FBD €30 million
FBD Insurance has said that recent bad weather is expected to cost it €30 million.
A stock-market statement said that the recent Storm Éowyn on 24 January was likely to be the biggest in the firm’s history. That storm followed a very cold spell in early January, which also caused significant damage.
Gross cost
However, the company has not yet determined the total number and gross cost of claims from last month.
FBD said that its reinsurance programme provided cover for extreme events and would mitigate the financial impact to the company.