Insurance group FBD Holdings has said that  - as expected - insurance rates have continued to increase into 2016. 

In a trading update ahead of its AGM, FBD said that the increase remains essential, as it believes the industry as a whole continues to be loss making.  

FBD Chairman Michael Berkery said the group's weather loss experience since the start of the year has not been severe, and the company continues to seek structural reforms to tackle the injury claims inflation prevalent here. 

"This should address the impact court awards are having on the affordability of insurance for farmers, businesses and other consumers," he added.

He also said that FBD's low risk investment allocation shielded it from the volatility seen in the markets since the start of the year.

"FBD is focused on maintaining underwriting discipline and prioritising a return to profitability," the Chairman stated. 

He said the company continues to execute its "simplified strategy" and remains on track for recovery.  

Shares in the company closed higher in Dublin trade today.