Reinsurance News
FM
FM expands capacity to strengthen support for data centres and digital infrastructure
14th January 2026
FM, a commercial property insurer, has announced a major increase in capacity to support its global FM Intellium clients and the data and power generation sectors, providing unmatched coverage limits and risk management expertise. Building on nearly 200 years of engineering experience and partnerships with businesses worldwide, FM can now offer ... Read the full article
AM Best upgrades VSIC’s credit ratings following acquisition by FM
30th May 2025
AM Best has removed the under review with developing implications status it placed on Velocity Specialty Insurance Company (VSIC) earlier this year, upgrading its Financial Strength Rating to A from A- and its Long-Term Issuer Credit Rating (Long-Term ICR) to “a” from “a-”, with a stable outlook. The upgrades reflect ... Read the full article
AM Best places VSIC’s ratings under review with positive implications
10th January 2025
Global credit ratings agency AM Best has placed Velocity Specialty Insurance Company’s (VSIC) Financial Strength Rating of A- and Long-Term Issuer Credit Rating of “a-” under review with positive implications. This is following the recent announcement that FM, a commercial property insurer, will acquire VSIC. The deal is expected to ... Read the full article
FM confirms acquisition of Velocity Specialty Insurance Company
8th January 2025
FM, a commercial property insurer, has confirmed its acquisition of Velocity Specialty Insurance Company (VSIC), Velocity's wholly owned E&S insurance carrier, with the deal expected to close in the first half of 2025. This acquisition follows a broader announcement covered yesterday, in which Ryan Specialty agreed to acquire Velocity Risk ... Read the full article
FM appoints Laurel Rudnick and Danielle Harrison to key leadership roles
23rd December 2024
FM, a commercial property insurer, has announced the appointment of Laurel Rudnick and Danielle Harrison to key leadership positions. Effective January 1, 2025, Rudnick will take on the role of Senior Vice President and Chief Underwriting Officer, while Harrison will assume the position of Senior Vice President and Division Manager for ... Read the full article
FM appoints Randy Hodge as Chief Operating Officer
15th November 2024
FM, a commercial property insurer, has appointed Randy Hodge as Chief Operating Officer (COO), effective December 1, 2024. Hodge will succeed Bret Ahnell, who is set to retire in March 2025. Ahnell joined the company in 1997 and has held various senior leadership roles, including serving as COO for the past ... Read the full article
FM appoints Steve Wrinkle as SVP of Strategy and Business Transformation
11th November 2024
FM, a commercial property insurer, has appointed Steve Wrinkle as Senior Vice President of Strategy and Business Transformation. In this newly created role, Wrinkle will be based at FM's headquarters in Johnston, Rhode Island, where he will oversee strategic development and management, including leading the company’s portfolio of key initiatives. Additionally, he ... Read the full article
FM receives upgraded rating of AA- from S&P, post rebranding
11th October 2024
Commercial property insurer, FM Global which recently rebranded as FM, has received an upgrade in its financial strength rating to ‘AA-’ from ‘A+,’ by S&P Global Ratings, reflecting its ‘very strong’ competitive profile, innovative risk engineering expertise, supported by its innovative loss prevention solutions, and prominence in the large commercial ... Read the full article
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