(Bloomberg) — FM Global, the policyholder-owned commercialinsurer, said Executive Vice President Thomas Lawson will replaceShivan Subramaniam as chief executive officer.
|The promotion is effective Jan. 1, and Lawson will join theboard of directors Aug. 1, the Johnston, Rhode Island-based insurersaid today in a statement on its website. Subramaniam, who has beenwith the company for four decades, will remain chairman. ExecutiveVice President John Hall was named chief operating officer.
|FM Global has long emphasized analyzing and mitigating risk, inaddition to selling insurance policies. The company employsengineers and conducts site evaluations to help companiesunderstand how to limit property damage and disruptions to theirbusiness.
|“Our fundamental philosophy is insurance is never enough,”Lawson said in a phone interview. “We're all about understandingthe exposures and helping clients understand their risk.”
|Under Subramaniam's 15-year tenure as CEO, annual revenueclimbed to $5.6 billion from $1 billion, according to thestatement. FM Global sells coverage to a third of the companies inthe Fortune 1000.
|Copyright 2018 Bloomberg. All rightsreserved. This material may not be published, broadcast, rewritten,or redistributed.
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