Commercial property insurer FM Global has appointed Malcolm C. Roberts as President and elected him to its board of directors.
Roberts, who previously served as Executive Vice President, will also succeed Thomas A. Lawson as Chief Executive Officer, effective Jan. 1, 2022.
Roberts joined the mutual insurance company in 1995 as a loss prevention consultant in London after working as a chemical engineer.
He has held a variety of management roles within the company across the globe and was appointed to his current position in 2018.
As President, he will be responsible for the strategic and operational direction of the company, which insures nearly US$10.2 trillion in business property in more than 130 countries.
“This is an exciting step in the future direction of the company,” said Lawson. “Malcolm has the right balance of leadership skills and vision, intrinsic understanding of our corporate culture, comprehensive insight into our clients’ complex needs as well as extensive industry knowledge and experience.”
“That, combined with FM Global’s enduring business model solely focused on property risk management and the resilience of our policyholders, will ensure the continued success we share with our client-owners,” he added.
Lawson will retire on December 31st, 2021, after 42 years with the company and will remain Chairman of FM Global’s board of directors.
He became CEO in 2015, and since then has helped the company grow from $5.6 billion to $7.4 billion in annual revenue and from $11 billion to $18.4 billion in policyholders’ surplus.