FACTORY MUTUAL INSURANCE CO

The Factory Mutual Insurance Co. is a mutual insurance company that is based out of Johnston, Rhode Island. The company can trace its history back to the establishment of the Manufacturers Mutual Fire Insurance Company that was founded by Zachariah Allen and a group of textile mill owners. The original company would slowly grow during its early years, and the original founder Zachariah Allen would form another mutual insurance company called Rhode Island Mutual in 1848. These two companies, among various other mutual insurance companies that would join the group, would become collectively known as the Associated Factory Mutual Fire Insurance Companies. The company would create a dedicated team to handle collective inspection activities in 1978as the inspection grew with the company’s expansion. Factory Mutual Insurance Co. would begin expanding into a variety of other industries beginning in the early 1900s. The company would undergo a series of consolidations to provide more comprehensive policyholder coverage, and, by 1987, over 40 mutual insurance companies would be consolidated down to three: the Allendale Mutual Insurance Company, Arkwright-Boston Manufacturers Mutual Insurance Company, and Protection Mutual Insurance Company. However, the three companies would compete with each other for customers despite openly sharing resources, and the companies would decide to go through a merger in 199 would create the current Factory Mutual Insurance Co. The company today is officially known as Factory Mutual Insurance Co. although it operates under the name FM Global. Factory Mutual Insurance Co. provides property insurance and loss prevention on a global scale with clients in over a hundred countries. The company has 4,400 employees and has been named the Best Property Insurer in the World. Factory Mutual Insurance Co. invests in a variety of sectors including the finance sector, which alone makes up over a fifth of its total asset allocations, information technology, health care, and consumer discretionary sectors, among others to a lesser degree, in order of decreasing allocation.