JOHNSTON, R.I., USA—Commercial and industrial property insurer FM Global’s “AA” (Very Strong) financial strength rating has been affirmed by Fitch Ratings for a seventh consecutive time, and been given a “stable” rating outlook.
Fitch reported that “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 global presence in specialty commercial property insurance markets, as well as benefits drawn from the company’s mutual company status.”
The ratings firm noted that FM Global’s “long-term operating performance continues to be strong” and it believes “FM Global’s favorable long-term underwriting performance is due in large part to the company’s ability to incorporate engineering expertise into the risk selection and underwriting processes.”
The company added that “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.”
For 177 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 572 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 the “World’s Best Supply Chain Risk Insurance Provider” by Global Finance magazine.