FM Global appoints CEO
Shivan Subramaniam, the current chief executive officer (CEO) of commercial and industrial property insurer FM Global, is set to retire at the end of the year.
Thomas Lawson, executive vice president, will replace Subramaniam as CEO from January 2015. He has also been appointed president and elected to the board of directors, effective August 2014.
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 December 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 $1 billion to $5.6 billion in annual revenue.
In addition, executive vice president Jonathan Hall, who joined FM Global in 1980, has been named chief operating officer. He will oversee FM Global’s insurance operations and insurance staff functions.
Subramaniam said: “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. 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.”