traditional geographical boundaries. These mutuals began branching out into other industries, such as shoe and rubber manufacturers, foundries and light, gas and power companies, while still maintaining their preference for low-risk properties. During the next 75 to 80 years, the need for more comprehensive policyholder coverage grew, forcing a series of consolidations among the FM companies. By 1987, 42 separate mutual insurance companies had become three: Allendale Mutual Insurance Company, Johnston, R.I., USA; Arkwright-Boston Manufacturers Mutual Insurance Company, Waltham, Mass., USA; and Protection Mutual Insurance Company, Park Ridge, Ill., USA. The three separate organizations found it difficult to deliver competitively priced, value-added engineering services in a marketplace full of increasing competition and a demand for more challenging property protection programs. The three companies were sharing the resources of an inspection group, yet were competing with one another for customers. To reduce competition and costs, in 1998 the CEOs announced their intent to merge the three companies to create FM Global. The merger was completed in 1999. 21st century FM Global is an international property insurance and loss prevention engineering company with US$5.3 billion of in-force premium (FY2016), US$11.9 billion in policyholders' surplus (FY2016), with clients in more than 100 countries and 5500 employees. FM Global awarded its largest ever membership credit in 2016 of US$407 million, intended to allow clients to share in the benefits of their risk improvement efforts, totalling nearly US$2.1 billion in total premium reduction via membership credits since 2001. In 2014, Shivan Subramaniam resigned from his role as FM Global's CEO, but remained on the company's board of directors. His role was assigned to the company executive Thomas Lawson. In 2021, FM Global appointed Malcolm C. Roberts as its president, effective August 1. Roberts will also become CEO, on January 1, 2022, following the retirement of chairman Thomas A. Lawson as CEO. Research Campus and FM Approvals FM Global's 1,600 acre (648 ha) Research Campus in West Glocester, Rhode Island, USA, conducts testing in fire and explosion hazards, hazards detection. These tests range from witnessing the difference in how products burn to how construction components perform in hurricane conditions. In 2004, FM Global entered into a Cooperative Research and Development Agreement (CRADA) with Sandia National Laboratory (US). The CRADA will develop advanced diagnostics and modeling of catastrophic fires. See also Property insurance References External links FM Global - Official Web site Financial services companies established in