FM Global chief executive becomes board chair

FM Global chief executive becomes board chair

FM Global CEO becomes Chairman of the Board | Insurance business America

Leader has been with the company since 1995

Insurance News

By Terry Gangcuangco

FM Global has named president and CEO Malcolm C. Roberts (pictured) as chairman of the commercial real estate insurer.

The change in chairmanship takes effect immediately. Roberts succeeds Thomas A. Lawson, who has led the board since 2018 after being named president and CEO in 2014.

Expressing his gratitude and excitement about his new role, Roberts said: “It is an honor and privilege to be appointed Chairman of the Board. I would like to thank the Board for their continued support as we work together to implement our strategy and take the next step in FM Global’s journey.”

A former chemical engineer, Roberts joined FM Global in 1995 as a loss prevention consultant in London. After moving through various management positions worldwide over the years, he was promoted to President and Board Member of FM Global in 2021. The following year his responsibilities were expanded to include the role of Chief Executive.

Board member John A. Luke Jr. highlighted Roberts’ credentials and commented, “Under Malcolm’s leadership, FM Global has delivered outstanding results and driven further expansion of its business around the world.”

As one of the largest commercial real estate insurers in the world, the American mutual insurance company insures more than $10 trillion in corporate property in over 130 countries.

“Our combined combined ratio was 67.4%, including our policyholder member credit and our resiliency credit. Pre-tax profit from the insurance business was $2.1 billion. These results, combined with a favorable investment market in 2023, allowed us to continue our strong surplus position.”

The new Chairman also thanked FM Global’s customers, partners, colleagues and communities.

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2024-04-12 04:00:00