A recent report confirmed that FM Global’s client retention rate increased to 97 percent with an average client tenure of 19 years. The Company also issued its 10th membership credit—an approximate benefit of US$3.8 billion to clients since 2001.
“Our capital base is stronger than ever, which is a testament to the strength and stability of a business model built for volatility,” said Thomas A. Lawson, chairman and chief executive officer, FM Global. “As a mutual company owned by our policyholders, we know our resilience reflects our clients’ resilience. This past year, our engineering advice and strong balance sheet helped many of our clients deal with potentially devastating disasters and weather such events with minimal disruption.”
It’s not only clients recognising the benefits of FM Global. The company was named the “best insurer” for property and boiler and machinery insurance in National Underwriter magazine’s Risk Manager Choice Awards, and the “most highly regarded insurer” for property claims handling in Advisen’s 2017 claims satisfaction survey. Forbes magazine ranked FM Global #112 on its list of “America’s Best Employers,” an increase of 163 places.
In the coming years, FM Global will continue to invest in research and technology that will speed the transfer of knowledge into client-focused loss prevention solutions. Additionally, they will continue to accelerate time to market with new products and services that meet clients’ evolving property protection needs.
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