JOHNSTON, R.I., USA--Insurance ratings company Fitch has affirmed commercial and industrial property insurer FM Global's 'AA' (Very Strong) financial strength rating and reports the rating outlook is “Stable.” The ratings also apply to Affiliated FM Insurance Company and FM Insurance Company Limited.
Noting the company’s solid long-term operating performance, Fitch remarked that the rating continues to reflect "FM Global's strong capital position and long-term underwriting profitability, competitive advantages derived from the company’s engineering expertise and global presence in specialty commercial property insurance markets, as well as benefits drawn from the company’s mutual company status."
Fitch also pointed out FM Global’s ability to incorporate engineering expertise into its risk selection and underwriting processes. "Fitch views the company’s engineering capabilities and loss prevention services as key advantages that are difficult for competitors to replicate, and believes this expertise will result in future underwriting results that are consistently better than peers."
Established in 1835, FM Global is a US$5.5 billion mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management. Its client-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 also is rated A+ (Superior) by A.M. Best.