Through the partnership, FM will bring its engineering expertise and leading research capabilities to help PURE members increase resilience and enhance property protection

FM, a leading commercial property insurer known for its science- and engineering-led approach to risk management, and PURE Insurance (PURE), the reciprocal insurer exclusively serving high-net-worth families across the United States and Canada, today announced a strategic partnership, expanding FM’s leading loss prevention capabilities to protect high-value residential homes.

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The partnership establishes a long-term collaboration to bring FM’s research, engineering and loss prevention expertise to PURE members to help build resilience in their properties. It also includes a risk-sharing reinsurance agreement under which FM will share in PURE’s underwriting results.

Together, the companies will focus on developing new ways to help high-value homeowners better understand risk, strengthen resilience and prevent loss. Initial efforts will address the most complex homeowner risks—including wildfire-exposed properties—against which FM has helped its clients protect for decades.

“We chose the PURE team as our partners as we enter this space because they share the belief that the majority of property loss is preventable through stronger understanding of risk and close collaboration with clients,” said Malcolm Roberts, chairman and chief executive officer of FM. “With FM’s engineering expertise, leading research capabilities and nearly two centuries of helping clients mitigate risk and build resilience, we see a unique opportunity to partner with PURE and bring that same approach to its members.”

“PURE has long believed that helping members identify and mitigate risk is one of the most important services we provide,” said Martin Leitch, chief executive officer of PURE Insurance. “FM has demonstrated, at scale, that a science- and engineering-led approach can materially reduce risk. We believe these same capabilities can be applied to high-value homes in ways that will lower the cost of risk for PURE members, and give us greater confidence in how we assess and manage risk, which should allow us to responsibly expand the membership over time, including insuring certain risks that we might approach more cautiously today.”

The partnership reflects strong alignment of purpose between the two organizations, both of which are structured to prioritize the long-term interests of their clients and members and believe proactive loss prevention is key to lowering the cost of risk.

Leitch added: “By combining our strengths, we believe we will make a meaningful difference for families by helping them better protect their homes and prevent loss for years to come.”

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 owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every four Fortune 500 companies. 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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About PURE Insurance

Privilege Underwriters Reciprocal Exchange (PURE) is dedicated to creating an exceptional experience for responsible high-net-worth families, providing customizable coverage for high-value homes, automobiles, jewelry, art, personal liability, watercraft, flood, fraud and cybercrime. PURE’s low cost of capital, careful member selection and proactive risk management all contribute to highly competitive rates and a Financial Strength Rating of “A (Excellent)” from A.M. Best. Over the past decade, PURE has grown written premium at a compound annual rate of 18 percent and now serves more than 120,000 members across the U.S. and Canada. PURE and its affiliates are part of the Tokio Marine Group.

For more information, visit pureinsurance.com or follow PURE on LinkedIn.

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