WINDSOR, U.K.—FM Global, one of the world’s largest business property insurers, has been named one of the best property/casualty insurers for long-term financial performance among the industry’s 25 largest U.S.-based insurance companies, according to a just released report from Fitch Ratings.
FM Global announced earlier this year that as a result of its continued financial success, due, in large part, to policyholders’ diligent loss prevention efforts, its clients will collectively receive an estimated US$420 million in “membership credit” when they renew their policies between June 30, 2010 and June 29, 2011. Since 2001, the company has returned nearly US$1.7 billion in membership credit to its clients.
The report, which studied five measures of performance—underwriting margin, net profit margin, cash flow, returns on capital and internal capital formation—ranked FM Global as the “best performing mutual” company and tops for underwriting performance.
“The findings speak of our policyholders’ efforts to improve their company’s overall property risk,” said Shivan S. Subramaniam, chairman and CEO. “Their commitment to property loss prevention, coupled with FM Global’s unique engineering approach to insurance, enables them to better protect their business operations and shareholder value, backed by stable capacity and financial strength.”
For more information on this report, visit www.fitchratings.com.
About FM Global
FM Global (www.fmglobal.co.uk ) works with many of the world’s largest organisations to develop robust property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. In recent years, 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. The company is rated A+ (Superior) by A.M. Best and AA (Very Strong) by Fitch Ratings. In the United Kingdom, FM Global is the communicative name for FM Insurance Company Limited, which is regulated by the Financial Services Authority.