Malta-based insurance firm MAPFRE Middlesea plc has appointed Mario Debono as Chief Officer Internal Audit, it announced on Monday.

This comes after Franco Borg resigned from the position in May, leading to an “intensive recruitment process” which resulted in Mr Debono’s arrival.

Mr Debono is a Certified Public Accountant with years of experience working in various internal audit roles at Bank of Valletta plc, during which time he was tasked with leading its team of audit professionals. He is particularly skilled in credit analysis and financial risk management.

He will be reporting into MAPFRE Middlesea’s audit committee, and his appointment is subject to regulatory approval.

MAPFRE Middlesea, which is a subsidiary of Spanish multinational firm MAPFRE, was established in 1981 as the first insurance company transacting general business in Malta. It has “innovation and customer focus” at the “core” of its business philosophy, seeking to provide clients with an “excellent customer experience”.