JOHNSTON – FM Global has opened an office in Beijing, after receiving approval from the China Insurance Regulatory Commission, the company said today.
“The approval marks the first step in the process for FM Global to establish a licensed insurance company in China,” Shivan S. Subramaniam, the commercial property insurer’s chairman and CEO, said in a statement.
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Allan Palmer, operations vice president, has been named chief representative for the new office. He will serve as the property insurer’s liaison to the Chinese marketplace. Palmer has worked at FM Global for more than 30 years, and in Asia for the past decade.
“FM Global’s growth has continued to follow that of our multinational clients, who comprise more than one out of every three Fortune 1000 companies and similar-sized organizations … in more than 130 countries,” Subramaniam said.
The Johnston-based insurer is Rhode Island’s largest private company and ranks 578th on Fortune magazine’s list of the largest companies in America.
FM Global is a $4.5 billion commercial property insurer with roots in Rhode Island that stretch back 170 years. It employs 4,700 people around the world including nearly 1,700 in southern New England, at its Atwood Avenue headquarters, its research campus in Glocester and its offices in Norwood and Waltham, Mass. Additional information is available at www.fmglobal.com.
