Commercial and industrial property insurer FM Global today reported an end of year...
Commercial and industrial property insurer FM Global today reported an end of year net income of £297m compared to £354m in 2003, a fall of 19%.
In the UK, the company's gross written premiums were £351m last year.
In-force premium rose by 4.5% to £2.2bn in 2004 and policyholder surplus grew to £2bn, a 21.5% increase over 2003's declared £1.65bn.
Premium retention rate was 95.6%, which FM Global attributed to competitively priced underwriting and the prudence of rewarding mutual policyholders.
The company achieved a combined ratio of 75.3%.
