Insurance company, FBD has released a statement to the Irish stock exchange that notes a recent press enquiry regarding internal allegations made against its chief executive, Fiona Muldoon.

The statement said that an investigation relating to this matter is ongoing. The investigation is being conducted with due regard to the rights of all the parties involved. She remains in her position as chief executive of FBD.

Having joined FBD in January 2015 as Group Finance Director Designate and appointed to the board she was appointed CEO in October 2015.

A chartered accountant, she was director of credit Institutions and insurance supervision at the Central Bank of Ireland from 2011 until 2014.

Prior to this she was with XL Group for seventeen years and held a number of senior roles with the New York Stock exchange listed Property & Casualty Insurance firm in Ireland, London and Bermuda, including two years as Group Treasurer until July 2010.

In 2015 she was appointed as a non-executive Director of the Governor and Company of the Bank of Ireland.

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