FBD Insurance making ‘progress' with Storm Éowyn claims
The chief executive of FBD Insurance said that 'progress is being made' in settling claims related to Storm Éowyn but reiterated that the group expects to take a €30 million hit from settlements related to the cyclone, which damaged homes and businesses across the country.
In a trading update in advance of the group's annual general meeting on Thursday, chief executive Tomás Ó Midheach said FBD's profitability, excluding the impact of 'weather events' in January, has been 'solid' so far this year and 'in line with expectations'.
However, the Republic's only indigenous insurer remains in line for a roughly €30 million hit from claims related to severe cold weather in January as well as Storm Éowyn, he said.
'We fully understand the significant impact these events have had on many of our customers,' Mr Ó Midheach said. 'Progress is being made in settling these claims quickly and fairly.'
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