Insurance group FBD Holdings has said that its profit before tax so far this year is in line with market expectations, and is being helped by a strong investment performance.

In an interim management statement ahead of its AGM later today, it said its gross premium written so far this year is marginally ahead of the same time last year, despite the very competitive market.

FBD said that policy volume is also marginally higher while average revenue per policy was kept at the same level as last year.

The company said the increase in policy volume comes from its 'No Nonsense' insurance and growth in business insurance. It noted that customers are choosing to buy insurance through brokers.

It said that underwriting and longer-term investment returns were both in line with expectations.

See how FBD shares performed in Dublin trade

In today's trading statement, the company said that large claims are ahead of the norm for the time of year but it expects that to settle out as the year progresses.