FM opens Mumbai office to grow India reinsurance arm
Commercial property insurer FM has opened a new office in Mumbai, expanding its presence in India and adding a local base for its reinsurance sales activity.
The company said the office will operate as an FMIC reinsurance sales office in the city. It described Mumbai as India's financial capital and said the move reflects a longer-term investment in the country's risk management and reinsurance market.
FM marked the launch with a ribbon-cutting ceremony attended by company leaders. Brokers, partners and clients from across the region also attended, according to the company.
Local presence
FM said India remains a focus in its strategy for serving clients in the region. It said the Mumbai team will work with brokers and partners. The company said this work will cover risk understanding and management practices.
"Our growing operations in India reflect both a global and local commitment. By combining world-class expertise with on-the-ground engagement, we aim to deliver lasting value for our clients and contribute to India's resilience journey," said Greg Duncan, Regional Head (South Asia), FM.
FM positions itself as a specialist in property risk management and loss prevention for large organisations, alongside insurance cover. The company operates as a mutual insurer, with policyholders as owners.
India investment
The Mumbai expansion sits alongside a broader build-out in India. FM said it has also invested in innovation and technology development in the country.
FM recently opened a global capability centre in Bengaluru as part of its expansion in India. The company described the site as a hub for research, analytics and engineering.
"India's evolving economy and the increasing complexity of risks, ranging from climate volatility and supply-chain fragility to cyber-physical exposures, are placing resilience at the centre of boardroom discussions," said Srini Krishnamurthy.
He also outlined FM's approach to the market.
"FM's mission is to help Indian businesses become more resilient, support the country's continued growth through engineering excellence and data-driven insights, and establish strong local partnerships."
Market backdrop
India's large industrial base and expanding infrastructure investment have pushed risk and insurance issues higher on corporate agendas. Companies have faced disruptions linked to severe weather, operational incidents and global supply chain pressures, alongside increased digital exposure.
FM's India strategy combines insurance and engineering services with reinsurance distribution, the company said. The Mumbai office places a reinsurance sales team in the country's main commercial hub.
The company has not disclosed headcount for the Mumbai office. It has not provided financial terms or capital spending figures connected with the opening.
FM said it will work with brokers and partners from the Mumbai base. The company said these relationships will remain central to its approach in India as risk management practices evolve across sectors.