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Johnston, R.I.-based Factory Mutual Insurance Co., which does business as FM Global, has restructured and renamed its Norwood, Mass.-based Factory Mutual Research affiliate. The research division is now called FM Global Research and its approvals division has been renamed FM Approvals....San Francisco-based Blue Shield of California, which has 2.3 million members, announced Thursday it will acquire another nonprofit health care organization, Lifeguard Inc., which has about 200,000 members. Terms of the transaction, which is expected to close in 30 to 60 days, pending regulatory approval, were not revealed. Lifeguard will continue to operate independently as a Blue Shield subsidiary....Employers Reinsurance Corp. has applied for a license to operate in China. The Overland Park, Kan.-based reinsurer hopes to open a branch office in Beijing or Shanghai. Chinese regulators are expected to decide whether to grant the license within 18 to 24 months.