FM Global has appointed president and chief executive Malcolm C. Roberts (pictured) as chair of the commercial property insurer’s board of directors.
The chairmanship change is effective immediately, with Roberts taking over from Thomas A. Lawson, who has helmed the board since 2018 after being named president and CEO in 2014.
Expressing gratitude and excitement about his new role, Roberts said: “It is an honor and a privilege to be appointed chair of the board. I thank the board for its continued support as we work together to execute on our strategy and take the next step in FM Global’s journey.”
An ex-chemical engineer, Roberts joined FM Global in 1995 as a loss prevention consultant in London. Having ascended through various management positions globally over the years, he was promoted to FM Global president and board member in 2021. The chief executive function was added to his remit the following year.
Highlighting Roberts’ credentials, board member John A. Luke Jr. commented: “Under Malcolm’s leadership, FM Global has delivered outstanding results and driven the continued expansion of its business around the world.
“With his many years of experience, extensive contributions to FM Global, and long track record of success, Malcolm is perfectly suited to step into the role of chair of the board.”
One of the biggest commercial property insurers in the world, the American mutual insurance company insures more than $10 trillion in business property in over 130 countries.
On the same day his appointment was announced, Roberts reported: “We had another phenomenal year in 2023, ending with $22.5 billion in surplus.
“Our combined ratio was 67.4%, which includes our policyholder membership credit and resilience credit. Pretax income from insurance operations was $2.1 billion. With these results, combined with a favorable investment market in 2023, we continued our strong surplus position.”
The new chair also thanked FM Global’s clients, partners, colleagues, and shared communities.
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