Thomas Lawson will retire from his role after spending 42 years at the company 

Commercial property insurer FM Global has promoted executive vice-president Malcolm Roberts to the role of president. He has also been elected to the company’s board of directors, effective from 1 August 2021.

Roberts, who joined the mutual insurance company in 1995 as a loss prevention consultant in London, has held a variety of management roles across the globe for the organisation - he was appointed to his current position of vice-president in 2018.

In his new role, he will be responsible for the strategic and operational direction of FM Global, which insures nearly $10.2 trillion in business property across more than 130 countries.

Roberts will succeed current chief executive Thomas Lawson from 1 January 2022, following his retirement on 31 December 2021 after a 42-year tenure. He will, however, remain on FM Global’s board of directors.

Lawson became chief executive in 2015 and has since helped the company grow from $5.6bn to $7.4bn in annual revenue, as well as seeing its policyholders’ surplus increase from $11bn to $18.4bn.

Lawson said: “This is an exciting step in the future direction of the company.

“Malcolm has the right balance of leadership skills and vision, intrinsic understanding of our corporate culture, comprehensive insight into our clients’ complex needs as well as extensive industry knowledge and experience.

“That, combined with FM Global’s enduring business model solely focused on property risk management and the resilience of our policyholders, will ensure the continued success we share with our client-owners.”