US-based mutual FM Global is returning $413 million to its policyholders in next year's renewal season.

Each client will receive a reduction in their premium of between 5% and 15%. This represents FM Global's fourth membership credit plan over the past six years; it will have returned a total of $1.4 billion to its global policyholders by the time this round of discounts is over.

The mutual insurer attributes the credit to a combination of positive operating performance and policyholders' commitment to loss prevention.