JOHNSTON, R.I., USA—Commercial and industrial property insurer FM Global has received an ‘A+’ financial strength rating with a “Stable” outlook from Standard & Poor’s (S&P) Rating Services. This is the second year FM Global has received an interactive rating assignment from S&P. The rating also applies to its affiliates: Affiliated FM Insurance Company (AFM) and FM Insurance Company Limited.
FM Global “has a very strong competitive position, which is supported by its highly regarded reputation for assessing risk to prevent and mitigate loss as well as its notable market presence in the large commercial property segments,” according to S&P.
The ratings organization also acknowledged the “significant breadth and depth” of FM Global’s management team and pointed out the company’s “mutual ownership structure provides flexibility and allows for a long-term, strategic view of risk.” Further, S&P indicated, “FM Global’s extremely strong capital adequacy and strong operating results also allow the group to absorb catastrophe losses and financial market volatility, which we view as a key factor to the ratings.”
S&P noted “FM Global’s highly regarded reputation for using its engineering expertise in assessing client risks to help prevent and mitigate loss gives it a significant commercial advantage over competitors.” Additionally, S&P highlighted that FM Global provides “significant competitive property insurance capacity and offers best-in-class products and services that keep pace with policyholder/owner needs.”
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. FM Global is rated ‘A+’ (Superior) by A.M. Best and ‘AA’ (Very Strong) by Fitch.