S&P Global Ratings has affirmed the ‘A+’ financial strength rating and “Stable” outlook for commercial and industrial property insurer FM Global, highlighting that the company is an “industry leader,” has “strong operating results,” “significant global presence” and “best-in-class loss prevention services.” This is the third consecutive year FM Global has maintained this rating which also applies to its middle market affiliate AFM and its United Kingdom-based subsidiary FM Insurance Company Limited.
In its affirmation, the ratings firm noted FM Global's “mutual ownership structure allowing for a long-term strategic view of risk” as well as the insurer’s “positive reputation, significant market presence, and overall positive operating results.” It also added that FM Global is “highly regarded for using its engineering expertise in assessing client risks to help prevent and mitigate losses, fostering a significant commercial advantage over competitors.”
FM Global “offers best-in-class products and services that keep pace with the needs of its policyholders and owners,” said S&P pointing to how FM Global “utilizes (its) state-of-the-art Research Campus to replicate potential property hazards and develop risk mitigation strategies” and noting industry surveys that report “FM Global is the world's leading provider of large commercial property coverage.”
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.