FM Seguros obtains license to operate as an insurer in Brazil
São Paulo, August 20, 2025 – FM, one of the world’s largest commercial property insurers, announced that its wholly owned subsidiary headquartered in São Paulo, FM Seguros S.A., has obtained a license to operate as an insurer in Brazil.
For approximately four decades, FM has operated in Brazil through its network of insurance partners. The new license to operate directly as a primary insurer strengthens the company's presence in Latin America and complements its existing status as an admitted reinsurer in the country. The change will allow The FM Group, headquartered in Johnston, Rhode Island, USA, to establish even closer partnerships with Brazil's largest companies and brokers, offering direct access to its differentiated business model, which is focused on the belief that the majority of property losses can be prevented.
"We are excited to bring our philosophy of partnership and our capital, research, and engineering expertise to Brazilian companies, helping them build more resilience and protect their businesses for the future,” said Monica Yasutomi, operations senior vice president, Latin America operations manager at FM. "This is a natural and strategic step in our nearly half-century journey in Latin America. Brazil is a key market, and obtaining this license reinforces our long-term commitment to our clients in the region.”
According to Yasutomi, the transition to the direct insurer model will be gradual. FM Seguros plans to begin its insurance operations in 2026, working in close collaboration with its current partners, brokers, and clients to ensure a smooth and efficient migration over the coming years.
"Our approach is unique. We act as partners to our client-owners to deeply understand the risks that can impact their business continuity," said Daniel Patavino Mazzi, vice president, client service manager at FM. "Working with business leaders as a local insurer in Brazil will allow us to apply our engineering expertise even more effectively, making risk management decisions that combine the best loss prevention with robust insurance protection for our clients."
FM’s license in Brazil aligns with the country’s growing influence as an economic engine. With its vibrant business landscape, Brazil offers FM a strategic opportunity to expand its footprint and deliver tailored solutions powered by global expertise.
About FM
Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These clients, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.
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FM
Brian Amaral
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