FM Global Pension Plan

Sanjay Chawla, Senior Vice President and Chief Investment Officer of FM Global, manages pension and general account assets. He chairs the North American "300" CIO Club and is a Milken Global Capital Markets Committee member. Chawla's oversight spans asset allocation for the pension plan and the parent insurance company's general account.

Hobbs Brook Real Estate (HBRE) is a wholly-owned FM Global subsidiary that develops and manages commercial real estate for the combined entity, including the pension plan. HBRE holds a portfolio of Class A office and laboratory properties, with confirmed assets in Providence, Norwood, and Boston. It functions as a direct-ownership vehicle, not a third-party fund manager.

The plan invests predominantly through its captive operator, Hobbs Brook Real Estate, rather than committing capital to external real estate fund managers. This direct model gives the pension plan control over asset selection, development, and long-term management. Public records do not indicate significant fund-of-funds allocations to outside real estate GPs.

FM Global is a mutual commercial property insurer founded in 1835, and its pension plan covers US employee retirement benefits. The Chief Investment Officer, Sanjay Chawla, manages both the pension plan portfolio and the parent company's general account. The insurance company's strong capitalization supports the pension plan's funded status.

FM Global operates the FM Global Foundation as its philanthropic arm, separate from pension plan assets. The foundation focuses on charitable giving in communities where FM Global has a presence. The pension plan funds are restricted to employee benefit obligations under ERISA.

HBRE's confirmed holdings include 10 Memorial Boulevard in Providence, Rhode Island, the FM Science and Technology Center in Norwood, Massachusetts, and a leased position in Boston's South Station Tower. The portfolio extends globally in alignment with FM Global's insurance operating footprint.

Chawla serves as the North American Chair of the "300" CIO Club, an institutional investor peer network. He is a member of the Milken Global Capital Markets Committee and was the inaugural chair of the SASB Investor Advisory Board, which set early standards for sustainability-related financial disclosures.