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Hi Sam,
235/40/18 will fit well on the front. That is what I have on my car using 18x8.5 ET32 front wheels. So it should be no problem for your wheels that are 18x8.0 ET34.
I am not 100% sure about fitting 265/35/18 on the rears. The e90 LCI has wider track than the earlier e90, so there is even less room than the e92 coupes. There are people on the forums who would say it is fine, but I still wonder if it might rub if you have people in the back seat with a full load of luggage. I was suprised how close the orginal 255 rear tyres were to the guards on my 325i LCI. If the specs are to be believed, the 325i LCI has even wider track than yours (3mm per side).
I don't think that wider tyres will help with wet weather grip. It might be worse if you drive over standing water due to the risk of aqua-planing.
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