FBD today (Thursday, May 7) told shareholders that its business has "not been significantly impacted by the weather conditions experienced earlier in the year".

However speaking at FBD Holdings' Annual General Meeting (AGM) today, Tomás Ó Midheach, chief executive officer, warned that "investment markets have been volatile in recent months, impacted by geopolitical events including the US/Iranconflict".

The CEO also outlined that "underwriting performance for 2026 to date has been solid" for FBD.

"At FBD, we believe that our customer centric strategy continues to create value for all our stakeholders.

"Our commitment to building strong and lasting customer relationships continues to deliver, supported by our nationwide branch network, which provides local expertise and dedicated support to the communities we serve," he added.

FBD

According to Ó Midheach, at the end of April, investment return through the Income Statement "has remained positive, supported by increased risk asset valuations and increasing income from our bond and cash portfolios".

"The impact of lower bond valuations on our Capital Ratio is largely offset by higher discounting of claims liabilities and lower market risk charges," he added.

According to the group's CEO, FBD also remains "strongly capitalised with a Solvency Capital Ratio in excess of our stated risk appetite".

"Our intention over time is to move closer to target capital levels, while preserving the sustainability of our annual ordinary dividend and maintaining a robust capital position for our growing business.

"We reiterate our confidence in our underlying profitability, our solid capital position, our future growth prospects and continue our focus on delivering value for our customers and our shareholders," Ó Midheach told shareholders.