JOHNSTON – FM Global, one of the world’s largest commercial insurers, held a topping-off ceremony on Friday for the company’s new $60 million headquarters, at 302 Central Ave.

The traditional construction milestone commemorated the installation of the building’s highest and final steel beam. Attendees signed the final piece of steel before it was lifted into place.

The 340,000-square-foot, four-story building, across Central Avenue from FM Global’s current headquarters, is slated to be completed by next summer.

Construction has been mired in controversy. At one point this year, the Town of Johnston issued a stop-work order, the result of a series of appeals by Capital Lease Funding Inc., which owns FM Global’s current headquarters. (READ MORE) Those appeals alleged that the town failed to allow enough time for review of the project’s plans before granting its approval.

An R.I. Superior Court judge lifted the order in June (READ MORE) and work has continued. But the Johnston Planning Board is expected to consider the matter this month.

FM Global is a commercial and industrial property insurer with 4,800 employees in 52 offices worldwide. Its roots in Rhode Island stretch back to 1835. Additional information is available at www.FMGlobal.com.