JOHNSTON, R.I., USA, October 9, 2024 – Commercial property insurer FM announced today that S&P Global Ratings, one of the world’s leading ratings agencies, upgraded its financial strength rating to ‘AA-‘ from ‘A+,’ reflecting FM’s “strong competitive profile” and “innovative risk engineering expertise.”
In its report, S&P Global Ratings wrote that the upgrade “reflects our view that the group will maintain strong operating margins that compare favorably with 'aa' rated peers. We also think the company's innovative risk engineering expertise would sustain strong operating margins outperforming the industry. We view favorably the company's robust capital buffer in excess of risk-based capital requirements at our extreme stress scenario.”
S&P Global Ratings added that the move “also recognizes our view of the company's very strong competitive profile, supported by its innovative loss prevention solutions and prominence in the large commercial property market.”
About FM
Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-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 four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.
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