Storm Éowyn cost FBD €30.8 million
Insurer FBD has said that Storm Éowyn in January 2025 cost it €30.8 million, leading to a drop in its profits for last year.
The firm reported pre-tax profits of €54.2 million – down from €77.1 million in 2024.
While insurance revenue rose by more than 10% to €486.8 million, underwriting profits were down by one-third to €44.8 million.
‘Sustained inflation’ in motor sector
Average premiums climbed by 5.6%, with FBD saying attributing 3.4% of this to customers increasing their insurance cover.
Average motor premiums rose by 5%, which the insurer blamed on “sustained inflation and increased claims-frequency experience for motor damage in recent years”.
There were bigger increases for home and farm premiums – 7.7% and 9.7%, respectively – due to higher property-rebuilding costs.
Value limits
Average settlement costs for injury claims increased by 4% compared with 2024, according to FBD, with pre-litigation settlement costs 6% higher.
Chief executive Tomás Ó Midheach noted that the General Scheme of the Civil Reform Bill 2025, published in January 2026, proposed an increase in the value limits for cases heard in the District and Circuit Courts.
“This has the potential to alter where personal-injury claims are litigated, reduce reliance on the High Court, and reshape legal-cost structures,” he stated.