Commercial property insurer FM Global has announced its clients will collectively receive an estimated $1.4 billion in premium credit—the largest amount ever—because of the company’s strong financial performance in 2023, according to FM Global. The membership credit each eligible policyholder will receive will be based on annual premium and client tenure and applied as an offset against premium at a client’s renewal or anniversary date.
Following this credit, FM Global clients will have benefited from about $6.5 billion in membership credit since the program was introduced in 2001.
FM Global clients holding policies consecutively for less than five years will be eligible for a 7.5% credit; five to 19 consecutive years will be eligible for a 12.5% credit; 20 consecutive years or more will be eligible for a 20% credit; and 25 consecutive years or more will be eligible for a 25% credit.
View more information about the 2023 membership credit plan and FM Global’s annual report.
