FBD Holdings said its trading performance so far this year has been good. 

In a trading update issued ahead of its AGM today, FBD chairman Liam Herlihy said the underlying profitability of the business is sound as it maintains its underwriting and pricing discipline in the face of continuing strong competition. 

"Weather in the year to date has been benign with no significant events occurring," the chairman added. 

Mr Herlihy said that while the current low interest rate environment persists, the global macroeconomic outlook has improved compared to the last quarter of 2018. 

He said this has benefited FBD's investment return so far this year.

The FBD chairman said that Brexit, and its likely impact, remains a major source of uncertainty for FBD, Irish farmers and Irish businesses. 

"We continue to plan for any operational impacts which may arise and we will continue to support our customers through this transition," he will tell shareholders.