Catastrophes lead to net loss for insurer FM Global (Business Insurance)

Catastrophes lead to net loss for insurer FM Global

  Tuesday, March 27th, 2012 Source: Business Insurance

Record losses resulting from natural disasters pushed Factory Mutual Insurance Co., which does business as FM Global, into a yearly loss, the Johnston, R.I.-based insurer said Monday. FM Global posted a net loss of $41.5 million in 2011 vs. net income of $686.6 million in 2010. Driven by the 20 large natural disasters worldwide in 2011, the company’s combined ratio deteriorated to 121%, as opposed to 85% the year prior. While net earned premium grew by 5.8% to $3.4 billion, net losses incurred from disasters in 2011 exceeded losses incurred in 2010 by more than $1 billion, the insurer said.

  Read Full Article
Carter Home & Commercial ServicesMid-America Catastrophe ServicesHancock Claims Consultants LLCWeller Salvage

  Recent Provider Listings

Serving Douglas & Surrounding Counties
Nebraska Gutters & Downspouts Roofing Contractors
Serving Oklahoma Statewide
Oklahoma Contractors General Roofing Contractors
Serving CA, FL, IL, IN, MI, NY, NJ, OH PA & TX
California Florida Illinois Environmental Consultants Fire Investigations