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Annual Report 2025

Progress through partnership.
  • Malcom Roberts headshot

    Executive Message

    Progress through partnership

    Read this year's message from FM Chairman and Chief Executive Officer Malcolm Roberts on how we are driving long-term client value.
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  • FM Leaders

    Leadership Stories

    Experience meets opportunity

    Meet three FM leaders stepping into key roles and get a glimpse into what motivates them.
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2025 by the numbers

  • US$31B
    surplus in 2025
  • US$1B
    membership credits in 2025
  • US$988B
    total loss expectancy reduction in 2025

Outstanding financial performance

  • Total premium chart

  • Expense ratio chart

  • Expense ratio chart

  • loss ratio chart

  • Turning partnership into measurable results

    In 2025, FM worked alongside clients, partners and communities to reduce risk and strengthen loss prevention. Explore our feature stories to see how partnership plays out in real-world situations. Download the full report for additional insights.
    Download FM’s 2025 Annual Report

Prevention, backed by response

Through planning, collaboration and coordination, we help organizations build resilience. See how these clients are managing and mitigating risk with FM’s proactive approach.

  • Client Story 1 for Annual Report

    Client Story

    gChem: Safeguarding a single, essential molecule

    As the only Western Hemisphere producer of DMSO, gChem strengthened safeguards at its Alabama facility to protect a critical supply.

  • Client Story 2 for Annual Report

    Client Story

    Great Lakes Cheese: Keeping cool through a power outage

    When a prolonged power outage threatened operations, planning and coordination helped Great Lakes Cheese maintain product quality and continuity.

  • Client Story 3 for Annual Report

    Client Story

    Orbia: Protecting continuity from mine to market

    Across its global operations, Orbia moved quickly to implement risk improvements that support essential materials and supply chains.

  • Client Story 4 for Annual Report

    Client Story

    Preparedness pays off for The J.M. Smucker Co.

    When unexpected flooding struck its Ohio campus, preparation and rapid response kept critical operations running.

  • Download PDF

    Download our 2025 Annual Report

    Explore our insights and performance highlights from the past year. Download our Annual Report for a comprehensive overview and our Financial Report for detailed financial data.

    Download full report (pdf)