FM Global's gross premium rises to $4.7bn
FM Global has reported a 5.6% increase in gross premium in force to $4.7bn (£3.0bn) and net income of $840m in 2009.
The company said that policyholder surplus grew 35% to $6.3bn “due to a combination of solid underwriting and investment results which marked a recovery to its position before the recent financial market upheaval”.
FM Global’s combined ratio stood at 69.6%, which it claims is “better than forecast, due in large part to the absence of large insured natural disaster losses and policyholders’risk improvement efforts”. Client (account) retention was 93%.
“FM Global’s focus today is as contemporary
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