LONDON, UK—FM Global, one of the world's largest commercial property insurers, has jumped to No. 541 on FORTUNE magazine's list of America's 1,000 largest companies. The ranking, published in the magazine's May 20, 2013 edition, is based on FM Global's fiscal year 2012 financial performance and represents a rise of more than 30 spots from the company's prior year's rank at No. 572.
Founded in 1835, FM Global remains one the one of the longest-standing companies among the FORTUNE 1000.
In 2012, FM Global's company's consolidated gross premium in force grew 8.6 percent to US$5.5 billion and net income was US$840 million, despite the impact of Superstorm Sandy—the company's single largest net aggregate natural disaster loss to date. Additionally, policyholder surplus grew 14.9 percent to US$7.9 billion and the mutual insurance company posted a profitable combined ratio of 85.7 percent.
About FM Global
For nearly two centuries, many of the world's largest organisations have turned to FM Global (www.fmglobal.co.uk) to develop cost-effective property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. With clients in more than 130 countries, FM Global has been named "Best Property Insurer in the World" by Euromoney magazine, "Best Global Property Insurer" by Global Finance magazine and received the prestigious Queen's Award for Enterprise. In the United Kingdom, FM Global is the communicative name for FM Insurance Company Limited, which celebrates its 50th anniversary of international operation in 2013.