FBD Holdings has appointed Liam Herlihy as Chairman of the insurance company with immediate effect. 

Mr Herlihy joined the FBD Board in September 2015. He was a former chairman of food group Glanbia up to 2015.

In a statement, the company 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 FBD's core customer base.

Earlier, FBD Holdings said the company has continued to make progress in improving profitability helped by strong underwriting actions and favourable weather year to date. 

In a statement issued ahead of its AGM in Dublin today, FBD said it had maintained "excellent" levels of retention of key customer groups.

But the hardening of insurance rates has continued into 2017, albeit at a more moderated level as the group maintains its focus on underwriting discipline and profitability.

"The injury claims environment remains uncertain and FBD welcomes the increased attention and action this is receiving from Government," the company said. 

"FBD believes that sustained public policy action is needed to improve the claims environment in Ireland. We note the progress to date on the recommendations from the Cost of Insurance Working Group," it added.

Shares in the company moved higher in Dublin trade today.