FM Announces Record US$1.5 Billion Policyholder Credit for 2026

Commercial property insurer FM has unveiled its largest membership credit in company history, distributing approximately US$1.5 billion to eligible mutual policyholders. The announcement reflects an exceptional year marked by collaborative risk management and strong underwriting results.

The record credit stems directly from the performance of FM's clients, whose dedication to risk mitigation and loss prevention achieved historically low loss levels throughout 2025. During the year, FM worked alongside its clients to implement more than 48,000 loss prevention recommendations, resulting in an estimated US$1 trillion reduction in loss exposure tied to property risk.

In addition to the standard membership credit allocation, FM is providing a one-time 5% supplementary enhancement to recognize clients' outstanding commitment to loss prevention efforts. Combined with FM's recently announced enhanced resilience credit, total policyholder credits for 2026 reach US$2.3 billion—a figure exceeding 100% of the company's 2025 underwriting profit.

"This year's membership credit demonstrates the strength of the partnerships we build with our clients and their unwavering commitment to building resilience and preventing losses before they occur," said Malcolm Roberts, chairman and chief executive officer of FM. "In today's rapidly shifting and uncertain landscape, resilience is more critical than ever. Our mutual business model, paired with our shared dedication to risk mitigation, enables us to distribute our success back to our clients. By collaborating together, we're constructing a more resilient future."

The mutual company structure and FM's robust financial performance make the membership credit program possible. Eligible mutual policyholders with renewal or anniversary dates falling between June 30, 2026, and June 29, 2027, will receive the credit as a premium offset applied at their policy renewal date.

Since launching the membership credit program in 2001, FM has returned more than US$8.9 billion to policyholders through this initiative.

The 2026 membership credit comprises standard allocations across four tiers, each supplemented by the 5% one-time enhancement. Eligible FM mutual policyholders will receive credits based on their tenure with the company:

• 10% credit for fewer than five consecutive years of membership
• 15% credit for at least five consecutive years but fewer than 10 years
• 17.5% credit for at least 10 consecutive years but fewer than 15 years
• 20% credit for at least 15 consecutive years