FM (formerly FM Global) is an American mutual insurance company based in Johnston, Rhode Island, United States, with offices worldwide, that specializes in loss prevention services primarily to large corporations throughout the world in the Highly Protected Risk (HPR) property insurance market sector.

[1] The company employs a non-traditional business model whereby risk and premiums are determined by engineering analysis as opposed to historically based actuarial calculations.

FM engineering personnel regularly visit insured locations to evaluate hazards and recommend improvements to their property or work practices to reduce physical and financial risks if a loss occurs.

The group agreed, and by year's end, formed the Manufacturers Mutual Fire Insurance Company, the oldest predecessor of FM.

The group later began performing appraisals and adjustments, loss analysis and research activities associated with preventing fire and other hazards to benefit the mutual insurance company owners and their policyholders.

[citation needed] FM constructed a training and meeting space in Norwood, Massachusetts that is branded as a Four Points by Sheraton hotel.

These mutuals began branching out into other industries, such as shoe and rubber manufacturers, foundries and light, gas and power companies, while still maintaining their preference for low-risk properties.

During the next 75 to 80 years, the need for more comprehensive policyholder coverage grew, forcing a series of consolidations among the FM companies.

To reduce competition and costs, in 1998 the CEOs announced their intent to merge the three companies to create FM Global.

[4] In 2014, Shivan Subramaniam resigned from his role as FM Global's CEO, but remained on the company's board of directors.