Commercial Property Insurer FM Global Earmarks US$380 Million to Policyholders in 2008: Decision Signals Nearly US$1.3 Billion to FM Global Policyh
JOHNSTON, R.I. (Business Wire EON) October 24, 2007 -- Eligible policyholders will receive the 2008 credit in the form of a premium reduction at the time of their policy renewal or annual anniversary in 2008. The credit each client will receive will be based on client tenure, with longer-term clients benefiting the most.
"This unique client benefit clearly demonstrates that, as a mutual company, FM Global is obligated and committed to its policyholders," said Shivan S. Subramaniam, FM Global's chairman and chief executive officer. "It also reinforces the benefits of mutual ownership, rewards client loyalty and further demonstrates the close alignment of our clients' needs with those of FM Global."
FM Global clients holding policies for:
-- less than five years will be eligible for a 5 percent credit;
-- five to 19 years will be eligible for a 10 percent credit; and
-- 20 years or more will be eligible for a 15 percent credit.
Visit www.fmglobal.com for a more detailed overview of the 2008 membership credit plan (including eligibility, timing and basis for calculations).
For nearly 175 years, many of the world's leading organizations have partnered with FM Global for cost-effective property insurance and better understanding of the nature and causes of fire, natural hazards and other risks to help them maintain continuity in their business operations.
FM Global's clients include more than one out of every three FORTUNE 1000 companies and similar size organizations worldwide, which benefit from FM Global's superior insurance capacity, risk assessment capabilities and proven property loss prevention engineering expertise and research.
With offices around the world and nearly US$6 billion in policyholder surplus, FM Global is rated A+ (Superior) by A.M. Best and 'AA' (Very Strong) by Fitch Ratings. The company was named "Best Global Property Insurer" and "Best Property Insurer - North America" by Global Finance magazine. Insurance and risk managers in 12 countries also named FM Global "European Business Insurer of the Year" in recent years and the company is the first commercial property insurer ever to receive a prestigious Queen's Award for Enterprise in the U.K.
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