Pros
The benefits package (for salary employees anyways) is excellent. The 401k matching is the most your likely to find in a Fortune 1000 company, and the health benefits are great. The company has been in business for over 175 years, and the business model is such that the company is likely to continue for another 175 years, granted a massive earthquake or flood doesn't wipe them out. Job security is very high.
Cons
Senior management is old and antiquated, ideas are stale, and the talent pool of senior management is poor. There is absolutely no incentive for performing well. Performance impacts salary increases at the bare minimum. A failure to do your job well past the first year will rarely, rarely result in termination. Even promotional opportunities result in negligible salary increases. The company is very closed minded to anything that doesn't come from their internal training program. Though the training program is excellent for an FM Global career, there is no interest in higher education such as a full time MBA. This would be something done on your own time, at your own expense.