Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 23rd of January 2018
March 26, 2012

FM Global reports 2011 results

by Richard Kilner

Story link: FM Global reports 2011 results

Global property insurer FM Global has reported its financial results for 2011, including a year-end US$5.1bn of gross premium in force, a rise of 5.4%.

The firm also recorded a 5.8% rise in net earned premium to US$3.4bn, and policyholder surplus fell by 5.5% to US$6.9bn.

Losses incurred due to natural disasters in 2011 were more than US$1bn greater than those of the preceding year.

The firm also enjoyed a 96% client retention rate, the highest level for more than a decade and significantly above the industry average.

Chairman and Chief Executive Officer Shivan S. Subramaniam said that 2011 saw the highest frequency and greatest severity of natural disaster losses on record, but that the firm’s risk assessment and risk improvement practices did not require modification.

 

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