FM Global 2016 profit rises as underwriting, investment improve

US property insurance mutual FM Global posted an improved
underwriting result in 2016, pushing pre-tax profit up by 7.3
percent to $1.17bn.
The carrier reported a 2.1 percentage point improvement in its
combined ratio to 83.2 percent, as gross written premiums edged up
marginally to $5.4bn. Total losses plus expenses fell by 1.5
percent to $3.2bn, as insurance-related expenses climbed 2.7
percent to $1.06bn.
Net profit rose 8 percent to $796,800.
FM Global's performance was bolstered by a 6.65 p