JOHNSTON, R.I., USA—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 premium earned 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
Marking 180 years in business in 2015, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management. Those owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every three FORTUNE 1000 companies. They work with FM Global to better understand the key property hazards that can impact their business continuity to make cost-effective risk management decisions combining property loss prevention with insurance protection.