FM Global secures Swiss operating licence

by Gill Montia

Story link: FM Global secures Swiss operating licence

FM Global has secured a licence to conduct business in Switzerland.

The commercial property insurer has also opened a new branch in Lugano, saying the expansion is driven by growth of its Swiss business and the need for more operational flexibility in the region, although it will continue as a co-insurer with its existing Swiss WorldReach partners.

The firm’s branch general representative, Paolo Marchi, explains:
“Having a licence to operate in Switzerland allows FM Global to issue our own policies locally and have a more direct link with our clients’ local operations which, in turn, will further enhance the quality of our service.”

Last autumn, FM Global was named “Risk Manager Choice” for commercial property and business interruption coverage in a survey undertaken by National Underwriter magazine.

The company says its clients include more than one out of every three FORTUNE 1000 companies and similar-sized organizations operating in nearly 200 countries.