Business Person of the Month February 2020: Fiona Muldoon has prioritised a major restructuring of FBD Insurance

Business Person of the Month | Thu 12 Mar | Author – Business & Finance
Fiona Muldoon FBD
Pictured: Fiona Muldoon rings the bell at the Irish Stock Exchange

Fiona Muldoon has prioritised a major restructuring of FBD Insurance since taking on the role of Chief Executive Officer in 2015. She is credited with boosting profitability for the company after a number of years of losses. She will stand down as CEO in October 2020.

In her role as Chief Executive Officer of FBD Insurance since 2015, Fiona Muldoon has prioritised a major restructuring of the group. Changes included reduced usage of insurance brokers and the sale of investment properties as well as a renewed focus by the company on price and risk. 

Credited with boosting profitability for the company after a number of years of losses, the former Central Bank regulatory also closed the company’s defined benefit pension plan to future accrual as part of the cost-cutting programme. 

FBD Chairman Liam Herlihy has said, “Fiona has transformed the commercial fortunes of FBD over the past four years. Her relentless focus on the business and its customers has been remarkable.”

Muldoon announced late last year that she will stand down as CEO in October 2020. Herlihy has said that succession planning will commence. 

She began her career as an Audit Senior at Deloitte before moving to Chase Bank to take up the role of Financial Accountant. In 1993, Muldoon joined XL Group where she spent over 17 years, culminating in becoming Senior Vice President. 

In 2011, she returned to Ireland from Bermuda to become Director Credit Institutions and Insurance Supervision for the Central Bank of Ireland and a number of years later, in 2015, she moved to FBD Insurance to take up the role of Group Chief Financial Officer. Later that year she would become Chief Executive Officer of the company. She also became Non Executive Director for Bank of Ireland that year. 

Muldoon holds a Bachelor of Arts from University College Dublin and is a designated FCA of Chartered Accountants Ireland.