Farm Ireland

Sunday 24 September 2017

FBD appoints new Chief Commercial Officer

Ciaran Moran

Ciaran Moran

FBD will announce today that John Cahalan will be appointed its new Chief Commercial Officer, subject to Central Bank of Ireland approval. 

He will replace current CCO Jim Ryan who is leaving leaving the business.

John will join in late July and brings and is said to bring a wealth of insurance experience, having spent the last 11 years with Axa.  

In his most recent role as Head of Sales and Distribution, John had responsibility for 250 staff and for the Axa branch network, their product proposition, call centres and online channel. 

Prior to Axa, John's career was with GE Capital.  He has a Bachelors degree in economics from University College Cork and an MBA from UCD.

Read more: FBD faces battle for control after shares soar

FBD CEO Fiona Muldoon said she is very pleased that we are in a position to attract a candidate of John's calibre and experience.

"He brings in-depth insurance expertise to our FBD senior team as we continue with our exciting plans for both new and existing farm, business and consumer customers."

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It comes as last week FBD announced the appointment of Liam Herlihy as Chairman. Mr. Herlihy joined the FBD Board in September 2015.

Read more: Former Glanbia man appointed FBD Chairman

Herlihy was, until May of 2015, Group Chairman of Glanbia plc, a leading Irish based performance nutrition and ingredients group, having served in that role for 7 years during which he presided over a period of significant structural change and unprecedented growth for Glanbia.

After losing almost €86m in 2015, FBD made it back into the black in 2016 - with pre-tax profits of €11.4m.

Even more importantly it recorded an underwriting profit, the difference between claims paid or provided for and premiums received, of €3.2m as against an underwriting loss of €125m in 2015.

In recent months and less than two years since Fiona Muldoon took the helm at FBD, the only publicly listed Irish insurance company has been rebranded.

Muldoon took over after FDB issued two profit warnings and announced €96.4m in half year losses, she pulled back the insurer to its core market and now presides over a company rebrand.

Comprising a new brand logo as well as a new advertising campaign, the brand underlines and builds on FBD’s unique position as the insurer which has been supporting local communities across the country for decades. The new-look FBD will be rolled out following a €2.5m investment in a campaign to run throughout the year.

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