JOHNSTON, R.I., USA—FM Global, one of the world’s largest commercial and industrial property insurers, today announced that Executive Vice President Thomas A. Lawson has been appointed president and elected to the board of directors, effective Aug. 1, 2014. He will succeed Shivan S. Subramaniam as chief executive officer, effective Jan. 1, 2015.
Lawson joined the mutual insurance company in 1979 and was appointed in 2009 to his current position. As president, he will be responsible for the strategic and operational direction of the company, which insures nearly US$9 trillion in business property in more than 130 countries.
Subramaniam will retire on Dec. 31, 2014, after 40 years with the company and will remain chairman of FM Global’s board of directors. He was named CEO in 1999. Since that time, Subramaniam has helped the company grow from US$1 billion to US$5.6 billion in annual revenue.
In addition, Executive Vice President Jonathan W. Hall, who joined FM Global in 1980, has been named chief operating officer, effective Aug. 1, 2014. He will oversee FM Global’s insurance operations and insurance staff functions.
“I have worked with Tom and Jon for nearly 16 years and have the utmost respect for the countless contributions they have made to help our policyholder-owners be more resilient,” said Subramaniam. “Their vast experience, leadership and deep understanding of our clients’ complex needs, combined with FM Global’s timeless business model, will ensure the continued success we share with our policyholders.”
About FM Global
Established in 1835, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management. Its client-owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every three FORTUNE 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions combining property loss prevention with insurance protection. FM Global is rated A+ (Superior) by A.M. Best and AA (Very Strong) by Fitch.