FBD Holdings remain on track to hit their earnings per share target of 145c to 155c for the full 2013 financial year.

In this week’s trading update, FBD outlined how the company recorded a 2% increase in gross written premiums despite the fact that the overall insurance market yet again contracted by between 2% and 3%, according to FBD.

Insurance premiums across the market for cars and business have risen during 2013.

FBD have further developed its insurance offering for the broker channel, offering a new car insurance offering under the Clan Insurance brand.

The Insurance group continue to grow their number of farmers customers despite the increased competition from Zurich in particular.

Sporadic large claims remain above the norm for 2013, in contract, severe weather related claims have been below the norm for 2013 so far.

Returns from their investment portfolio have also boosted performance, with returns of 3.2% for the nine months to the end of September this year.

Their investment spread remains majority invested in bank deposits instead of medium term bonds.

FBD’s balance sheet and capital ratios have also improved during the period underlying their solvency ratios.

Finally, FBD’s share price has appreciated by over 60% this year, trades on 10.2 times 2013 earnings and offers a dividend yield of 3.1%.