FBD Insurance has appointed Paul D’Alton as its new CEO and the successor to outgoing boss Fiona Muldoon. On Tuesday, the insurer announced that D’Alton will take over as interim CEO from the end of this week.

D’Alton is no stranger to FBD having served as interim chief financial officer (CFO) of the insurer from 2015 to 2016. He is a heavyweight of the corporate finance world having served as CFO at Bank of Ireland as well as working with UK insurer RSA and Waterford Wedgewood.

FBD chair Liam Herlihy thanked outgoing CEO Fiona Muldoon for her contribution to the company over the last five years.

Transformation

“She [Muldoon] has been instrumental in the transformation and development that has taken place in FBD. Her relentless focus on the business and its customers has been remarkable. Shareholders and the community alike have benefited from her tireless efforts. We wish her the very best for the future,” said Herlihy.

"I am also pleased to announce Paul’s appointment to the board and as interim chief executive officer. He is highly regarded in the investment community and as a former FBD colleague, he knows our business well. I look forward to his contribution to FBD and am confident in his ability to deliver for all stakeholders, given his substantial experience in financial services in Ireland.

"The board continues to make progress towards its appointment of a permanent CEO," he added.