Éowyn-related claims could hit €300m, says insurance body

The insurance industry in Ireland is facing unprecedented financial strain due to the extensive damage caused by Storm Éowyn. Insurance Ireland, the representative body for the sector, reports that claims related to the storm have already surpassed €197 million, with projections indicating that total costs could escalate to €300 million. This would position Storm Éowyn as the most financially devastating weather event in the country in the past quarter-century.

The storm, which struck in late January 2025, was accompanied by hurricane-force winds, which resulted in widespread destruction. At its peak, a total of 768,000 homes, farms, and businesses were left without electricity, said ESB Networks. Uisce Éireann also said that nearly 140,000 homes lost water supply, while Eir said that some 160,000 homes and businesses lost broadband services as a result of the storm.

In response to the crisis, the Irish government activated the Humanitarian Assistance Scheme to assist those affected. To date, over 5,700 payments have been issued, totaling nearly €1.2 million, with an average claim value of €210. The payments are for immediate needs such as food, clothing, and temporary accommodation. The adequacy and timeliness of these supports have been questioned by some public representatives as not being sufficient given the scale of the disaster.

The storm’s cost to insurance firms is significant. FBD Insurance, one of Ireland’s largest insurers, estimated the cost of claims for the storm and a following freeze at some €30 million, potentially the largest storm loss the firm has ever experienced. The incident has raised fears of potential insurance premium increases for customers as firms seek to offset the huge payouts incurred from the storm.

Historically, the most expensive weather-related insurance event in Ireland was the January 2010 big freeze, which cost €297 million in claims. Storm Éowyn is on course to surpass this based on the current trend of claims, demonstrating the increasing financial expense of extreme weather conditions to the insurance industry and the community at large.