LONDON, UK — FM Global, one of the world’s largest business property insurers, announced today that 2014 was another successful year for the company from both an insurance and investment perspective. Net income increased by 2 percent to US$3.6 billion, policyholder surplus increased 9.5 percent to US$10.6 billion and the mutual insurance company posted a combined ratio of 79.4 percent.
Consolidated gross premium in force was US$5.5 billion, a 1.9 percent decline from 2013, due in part to the foreign exchange rate impact of the strengthening U.S. dollar.
“The financial numbers speak to the strength of our business model as a mutual insurer and to our balance sheet, long-term trusted client partnerships and our employees’ single-minded commitment to our policyholder-owners,” said Thomas A. Lawson, president and chief executive officer.
Among other 2014 highlights:
“As we enter our 180th year in business in 2015, our emphasis will be on flawless execution and delivering value to our clients by providing them scientifically based, cost-effective risk management and insurance solutions that assist them in making their businesses more resilient,” said Lawson.
About FM Global
FM Global (www.fmglobal.co.uk) is a US$5.6 billion mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its client-owners. In 2015, FM Global celebrates its 180th year in operation; working with many of the world’s largest organisations to develop cost-effective property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. In 2015, Global Finance Magazine named FM Global the ‘World’s Best Supply Chain Insurance Provider.’ In the United Kingdom, FM Global is the communicative name for FM Insurance Company Limited.