Industrial property insurer FM, by its São Paulo-based subsidiary, FM Seguros, has secured a licence to function as an insurer in Brazil.
The transfer marks an enlargement for FM, which has been current within the Brazilian market by partnerships for practically 40 years.
The authorisation permits FM Group, primarily based in Johnston, Rhode Island, US, to reinforce its engagement with Brazilian firms and brokers by offering direct entry to its enterprise mannequin.
The shift in the direction of working as a direct insurer in Brazil shall be carried out step by step.
FM Seguros seems to be to provoke its insurance coverage companies in 2026, coordinating with present companions, brokers and shoppers to facilitate a clean transition.
FM operations senior vice-president and Latin America operations supervisor Monica Yasutomi mentioned: “We’re excited to deliver our philosophy of partnership and our capital, analysis and engineering experience to Brazilian firms, serving to them construct extra resilience and shield their companies for the long run.
“It is a pure and strategic step in our practically half-century journey in Latin America. Brazil is a key market, and acquiring this licence reinforces our long-term dedication to our shoppers within the area.”
FM vice-president and consumer service supervisor Daniel Patavino Mazzi said: “Our strategy is exclusive. We act as companions to our client-owners to deeply perceive the dangers that may affect their enterprise continuity.
“Working with enterprise leaders as an area insurer in Brazil will enable us to use our engineering experience much more successfully, making danger administration choices that mix the very best loss prevention with strong insurance coverage safety for our shoppers.”
In Might, the corporate launched the FM Intellium programme to handle dangers related to developments in AI and cloud computing, serving to shoppers handle knowledge centres and energy era services.
