Irish Financial Ombudsman Reports Record Complaints in 2025, Returns €6.2M to Consumers
The Financial Services and Pensions Ombudsman (FSPO) returned close to €6.2 million to consumers in 2025, resolving over 6,200 complaints related to insurance, banking, and pensions. This figure represents a 6% increase in complaints closed compared to 2024, marking the highest number ever handled by the office . The agency also received a record 7,004 complaints throughout the year .
Increase in Complaints and Resolution Rates
A significant 90% of closed complaints in 2025 were resolved through early-resolution and informal processes, avoiding the need for formal investigations or legally binding decisions. 88% of these complaints were completed within 12 months . This efficiency is a key focus for the FSPO, which has been actively increasing the use of mediation to benefit both consumers and providers.
Insurance Complaints Surge
Insurance complaints accounted for approximately one-third of all complaints received by the FSPO in 2025, with 2,142 cases reported – an 18% increase from the previous year . The number of insurance complaints has doubled since 2022 . Motor insurance, private health insurance, and travel insurance were the most common areas of dispute. A quarter of all insurance complaints related to issues with claim handling, followed by claim rejections.
Banking Complaints Remain High
Banking complaints comprised over half of all complaints received, totaling 3,802 cases, representing 54% of the overall volume. Disputed transactions were a significant driver of these complaints, increasing by 28% since 2024 . These disputes included fraudulent transactions, inaccuracies in account information, security concerns, and unauthorized withdrawals.
Ombudsman’s Response and Future Outlook
Financial Services and Pensions Ombudsman Liam Sloyan, who commenced his role on December 1, 2022 , emphasized the positive impact of early resolution. He stated that resolving complaints at an early stage yields positive outcomes for both customers and providers. Sloyan also noted his concern regarding the significant increase in insurance complaints and plans to discuss this trend with industry representatives . The FSPO has the authority to direct firms to rectify conduct and can award compensation up to €500,000 .
Tracker mortgage complaints continue to decline, with 11 fresh complaints received and 143 closed in 2025.
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