President of the IFA (Irish Farmers’ Association), Joe Healy, has been appointed as an independent, non-executive director, FBD Holdings PLC has announced.

Earlier today, Thursday, August 10, the company said that Healy has been appointed to the board of directors with immediate effect.

Chairman of the FBD Holdings company, Liam Herlihy, commented on the appointment, noting: “In addition to his general commercial experience, Healy brings to the board his considerable insights into Ireland’s agricultural industry, as well as a keen understanding of rural communities.

“I am delighted to welcome him to our board,” Herlihy added.

Healy was previously offered the position on the board last year but chose not to take up the role due to his workload as IFA President.

Healy also represents Irish farmers at EU level on COPA, the official umbrella organisation for European farmers. He chairs the COPA Food Chain Working Group, which aims to bring about a stronger position for farmers in the food supply chain. The IFA President is also a non-executive director of Bord Bia.

Strong performance

This news comes shortly after the FBD Group announced its revenues for the first six months of 2017.

The FBD Group recorded a strong start to 2017, with profits before tax reaching €11.9 million in the first six months of the year.

This compared to a loss of €3.7 million that was reported in the same period last year. An underwriting profit of €11.1 million was recorded this year, in comparison to a €1.6 million loss noted in the first half of 2016.

An increase in gross written premiums between January and June brought the total to €189.7 million; this equated to a rise of €8.9 million or 4.9%.

The results for the first half of 2017 represent a solid start to the year, providing further evidence that FBD is on a clear path to the achievement of its targeted returns on equity, according to the group.