Irish insurer FBD signals tough 2009

DUBLIN, March 4 (Reuters) - Irish insurer FBD (FBD.I) said on Wednesday its 2009 underwriting result may be slightly lower than last year and its longer-term rate of investment may also be down slighly amid tough market conditions.

"We would see our underwriting result at this stage of the cycle a little bit lower than the 2008 figure," Chief Executive Andrew Langford told Reuters.

"Our longer-term rate of investment return may be slightly lower as well because the longer-term outlook for interest rates is lower."

Earlier, FBD reported a 46 percent drop in full-year underlying earnings, as expected, due to an increase in claims and lower investment returns.

(Reporting by Carmel Crimmins)