JOHNSTON – Commercial property insurer Factory Mutual Insurance Co., the largest privately held company based in Rhode Island, has changed the brand name it has operated under since 1999.
The brand, FM Global, has been shortened to FM, which the company said “reflects FM’s evolving business and impact for after nearly two centuries of partnering with and protecting global businesses.”
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The “refreshed” brand includes a new logo and tagline.
The company, which reported more than $7 billion in revenue in 2022, said FM will serve as the parent brand for its flagship mutual insurance company and commercial property insurer AFM, now known as FM Affiliated. The company’s cargo insurance business, boiler and machinery reinsurance business, and a new renewable energy unit will also incorporate the new FM brand name.
As of July, the company’s exact name in the R.I. secretary of state registry remains Factory Mutual Insurance Co.
“Our new brand positions us collectively for our next wave of success by clarifying who we are and what we stand for: protection, partnership and progress,” said Malcolm Roberts, chairman and CEO. “We believe that by uniting our businesses under the FM brand, we will streamline and strengthen our market position, which will allow us to provide an even better experience for our current clients and reach more organizations that share our belief that the majority of property loss is preventable.”
The company can trace its origins back to 1835, when mill owner Zachariah Allen persuaded other owners to create a mutual property insurance company that insured factories that took steps to minimize fire risks.
By 1999, three large mutual companies – including Johnston-based Allendale Mutual Insurance Co. – decided to merge, moving into the Allendale headquarters and naming the new entity Factory Mutual Insurance, or FM Global. The company now employs more than 1,300 locally and 3,900 across the entire company, according to PBN’s 2024 Book of Lists.
The company says its new “titanium” logo is supposed to represent engineering innovation, stability and the company’s roots. The company tagline is now “Protect your purpose.”
