FM
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The property insurer has secured significant additional capacity for its FM Intellium unit. -
He will join the company on January 15 as SVP, global market and product relations.
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With property getting more competitive, FM pursued an opportunity for growth in E&S with Velocity.
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The credit can now be applied to mitigation against operational losses.
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Erbig joins after more than 20 years in finance-related positions at Liberty Mutual.
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The company’s credit ratings had been under review since early this year.
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The review follows Velocity’s acquisition by FM Group.
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Danielle Harrison will become SVP, division manager, and Laurel Rudnick will be SVP, CUO.
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Sources said the placement is led by FM Global, but exposure is spread between the US and London property markets.
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Terminated staff had hoped the dismissals might be forestalled after the company pushed back the soft reopening of offices until at least February.
