3 rd & 4 th october 2013 istanbul – turkey ishfaq khan – account manager emea worldreach...
TRANSCRIPT
3rd & 4th October 2013 Istanbul – Turkey
Ishfaq Khan – Account Manager EMEA WorldReach Network
5th International Istanbul Insurance Conference
Content
• FM Global Overview• FM Global Business Model• External Validation• Conclusion
FM Global Overview
178 Years of Experience
Founded: 1835
Owned by Policyholders
Type of Company: Mutual
Specialists
Type of Insurance: Property Only
History
5,200 Employees
Engineers: 1,800
Field Inspections: 110,000 annually in 142 countries
$125M Research Campus
63% Loss Ratio - 7 year avg.
Industry 7 yr. Average: 78%
Loss Control
Worldwide Territory
Offices: 51
Local Admitted policies placed: 110 countries
26% Global Market Share
U.S. Market Share: 35%
94% Customer Retention
Industry Average: < 80%
Operations
Highly Rated
A.M. Best - A+, Superior Fitch - AA, Very StrongFinancial Strength
Total Assets: $16.4 Billion
Claims Paying Ability
Surplus: $8.7 Billion
Membership Credits
Credited Premium: $2.1 Billion
Financials
FM Global Business Model
Delivering Value to Clients Through Four Key Differences
• Mutual Governance• Specialty Focus• Loss Prevention • Global Consistency
FM Global Differences
Mutual Structure
Value Created for Client
• Voice
• Large, stable capacity
• Opportunity for client to share in positive experience
So what?
• Client/owner commitment
• High tolerance for volatility
• Reduced dependence on reinsurance
Value Created for Client
• Informed Risk Management decisions
• Program stability and continuity
• Rapid, fair claims settlement
So what?• Complete
commitment to large property segment
• Depth, knowledge, expertise
• Capital dedicated solely toward short tail business
• Dedicated claims service
Specialty Focus
• Assets versus Expense
• Understand the Hazard
• Exposure Driven Engineering
• Practical Solutions
Value Created for Client
• Understand Risk
• Control Destiny
So what?
Belief that loss is preventable
Research Campus
• Consistent worldwide approach to loss prevention, underwriting and claims
• Transactional excellence
Value Created for Client
• Control based on client needs
• Easy access to local
issues/information
• Timely policy issuance, premium
collection and efficient cash flow
So what?
Global Consistency
Global Consistency
Belief that loss is preventable
Specialty Focus
Mutual Structure
Client Value Summary
• Control • Easy access• Timely issuance
• Understand Risk• Control Destiny
• Informed decisions• Program stability• Rapid, fair claims
• Voice• Large Capacity• Share + experience
External Validation
Ranked #1 by U.S. Companies in the five most critical areas of insurance carrier performance
Performance
FM Global#766
Named Best Global Property Insurer and Best Property Insurer – North America
ty Insurer – North America
Third Parties tell us….
Public Acknowledgement
Global Finance Magazine Names FM Global ‘World’s Best Supply Chain Risk-Consulting Services Provider’July 17, 2013 JOHNSTON, R.I., USA—Commercial and industrial property insurer FM Global has been named the “World’s Best Supply Chain Risk-Consulting Services Provider” by Global Finance magazine in its July/August 2013 issue.FM Global “provides clients with tools and services to help them better understand and mitigate risk in their supply chains,” reports Global Finance in its rankings of the “World’s Best Supply Chain Finance Providers 2013.” The insurer “also includes awareness materials that enable companies to better understand their supply chain and associated risks. And its online toolkit helps companies better protect their supply chains against natural disasters.
Conclusion
• We are a specialized Mutual insurance company
• Mono-line Insurer – Commercial & Industrial Risk only
• World leader in Insurance Risk Management & Research
• Engineering driven underwriting
• Financial Rating - A.M. Best - A+, Superior & Fitch - AA, Very
Strong
• Total Assets: USD $16.4 Billion
• Insure 1 in every 3 Fortune 1000 Company
Remember who we are?
Thank You