Former Glanbia man appointed FBD Chairman
FBD Holdings plc has announce the appointment of Liam Herlihy as Chairman with immediate effect. Mr. Herlihy joined the FBD Board in September 2015.
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.
Herlihy completed the Institute of Directors Development Programme and holds a certificate of merit in Corporate Governance from University College Dublin.
FBD has said he brings to the role a wealth of commercial experience and some deep insights into the farming and general agricultural industries in Ireland which, together, comprise the Group's core customer base.
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.