JOHNSTON, R.I., USA—FM Global, one of the world’s largest commercial property insurers, has received an A+ (Superior) financial strength rating affirmation with a “stable” outlook from AM Best. The rating also applies to the company’s affiliates, including Affiliated FM Insurance Company (AFM), FM Insurance Company Limited, FM Insurance Europe S.A. and Appalachian Insurance Company.

The insurance ratings company indicated “the rating reflects FM Global’s balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.”

It noted that FM Global has “a history of protecting its policyholders” as a “leading global property insurer with a balance sheet that has demonstrated an ability to withstand catastrophes year-over-year.” It cited that in 2017 and 2018, for example, FM Global’s actual catastrophe losses approximated half of modeled losses in most cases, due to the company’s “superior knowledge of (client) risks and expedient settlement of claims.”

“FM Global reinvests heavily in its engineering-based approach,” the ratings agency remarked, “and is an innovator in contributing to the industry’s loss control and minimization through flood mapping and modeling internationally, as well as in cyber risk assessment.”

AM Best also highlighted that “FM Global has a very unique market position and business profile” given it’s a mutual company and a monoline commercial property insurer with “a singular focus on its specialty expertise.” That “enable(s) its management to take a longer-term view of running its business and to manage…large commercial property risks.”

FM Global is also rated ‘AA’ (Very Strong) by Fitch and ‘A+’ by S&P Global Ratings.

About FM Global
Established nearly 200 years ago, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its client-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 three Fortune 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.