JOHNSTON, R.I., USA—Fitch Ratings has affirmed the 'AA' (Very Strong) financial strength rating of FM Global and stable rating outlook.
“The ratings continue to reflect FM Global's strong capital and long-term underwriting profitability, competitive advantages derived from the company's engineering expertise and benefits drawn from the company's mutual company status,” Fitch reported.
Fitch noted the strength of FM Global’s long-term operating performance and capital position and how the company’s surplus has been able to withstand large catastrophe losses that have occurred this year.
“FM Global's favorable underwriting performance is due in large part to the company's ability to incorporate its engineering expertise into its risk selection and underwriting processes,” Fitch added. “The company's engineering capabilities and loss prevention services (are) key advantages that are difficult for competitors to replicate. This expertise will result in underwriting results that are consistently better than (its) peers.”
About FM Global
For 176 years, many of the world’s largest organizations have turned to FM Global (www.fmglobal.com) to develop cost-effective property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. FM Global ranks 570 among FORTUNE magazine’s largest companies in America and also is rated A+ (Superior) by A.M. Best. FM Global has been named “Best Property Insurer in the World" by Euromoney magazine and “Best Global Property Insurer" by Global Finance magazine.