Price Forbes has appointed Adam Chapman (pictured) as executive director of construction and energy, with the hire taking effect in June 2027. Chapman will report to Paul Lewis, chief executive officer of construction at Price Forbes.
Chapman will oversee broking and delivery of insurance solutions across oil, gas, petrochemical and major construction projects. He will coordinate multidisciplinary teams in support of clients throughout the project lifecycle, with a focus on large and technically complex programmes.
He brings experience from senior positions at Marsh and JLT, where he specialised in energy construction, major projects and complex risk solutions.
Lewis said the scale and complexity of construction projects was continuing to grow. He added that Chapman's experience on technically demanding programmes made him well suited to coordinating service delivery across the firm's largest construction mandates.
The appointment comes as the construction insurance market undergoes considerable change. A 2025 report by Miller found that construction lines saw rate softening as new capacity entered the sector. Premium discounts of up to 25% were recorded across project business.
Miller cautioned that the 2026 outlook remained uncertain, with property losses in North America a potential influence on future pricing conditions. Against that backdrop, brokers with specialist expertise in technically complex programmes carry greater commercial weight.
Chapman's remit spans both traditional energy and major construction. Both lines sit between sustained project demand and the pressures of decarbonisation. Insurers working through net-zero commitments are applying stricter criteria to oil, gas, and petrochemical risks while project pipelines in those sectors remain active.
Price Forbes, part of Ardonagh Specialty, manages more than US$7 billion in gross written premium and employs approximately 1,500 people globally. Ardonagh Specialty is among the largest independent specialty broker in the London market, with operations across energy, construction, property, casualty and marine lines.
