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In its announcement, Fitch said the affirmation “reflects FM’s long-term underwriting profitability, very strong capitalization and competitive advantages derived from the company's engineering expertise and global presence in specialty commercial property insurance markets.”

In this role, Broad will lead FM’s core insurance operations, which include underwriting; research and engineering; claims; data analytics and AI; and global client services, sales and marketing.

Hodge will take over the COO role from Bret Ahnell, who will retire from the company in March 2025. The appointment will be effective on Dec. 1, 2024.