Commercial property insurer FM has appointed Randy Hodge as its new chief operating officer, effective Dec. 1, 2024. Hodge will succeed Bret Ahnell, who plans to retire from FM in March 2025 after nearly four decades of service.
Hodge brings more than three decades of experience within the company, having joined FM in 1990. His roles have spanned a wide array of operational and client service functions, including positions as a field engineer, operations manager in Atlanta, and most recently as executive vice president overseeing staff insurance operations. He has also held the role of senior vice president and chief underwriting officer.
“With Randy’s deep knowledge of FM and long track record of delivering industry-leading solutions and services to our clients, he is uniquely positioned to take on the COO role and help lead FM into the future,” said Malcolm Roberts, chairman and chief executive officer of FM.
Roberts also acknowledged Ahnell’s contributions, expressing “deepest appreciation and gratitude” for his 38-year leadership with FM and “unwavering commitment to our clients and their success.”
Hodge holds bachelor’s and master’s degrees in electrical engineering from California State University.
Founded nearly two centuries ago, FM is a mutual insurance company focused on property risk management, supported by a combination of engineering expertise and scientific research. The company serves some of the world’s largest organizations, including a quarter of Fortune 500 companies, and prioritizes resilience and loss prevention in its approach to client partnerships.
In April, Roberts was appointed chair of FM’s board of directors, adding to his responsibilities as president and CEO. The company closed 2023 with $22.5 billion in surplus and a 67.4% combined ratio.
AM Best reaffirmed FM’s A+ (Superior) Financial Strength Rating and “aa” (Superior) Long-Term Issuer Credit Rating, with a stable outlook.
Do you have something to say about this story? Let us know in the comments below.
