LONDON, UK – Insurance ratings company A.M. Best has affirmed commercial property insurer FM Global’s A+ (Superior) financial strength rating and given the company a "stable" rating outlook. FM Global has maintained this rating for more than a decade.
According to A.M. Best, the rating acknowledges FM Global's "excellent level of risk-adjusted capitalisation, historically solid underwriting and operating performance, benefits gained from its innovative loss prevention process and approach to property conservation, as well as its market leadership position in the commercial property market."
The ratings company also cited that FM Global "is a market leader among providers of commercial property insurance," and serves "a significant number of FORTUNE 1000 companies worldwide," many who have been clients for more than a quarter century.
FM Global's "ability to consistently retain more than 90 percent of its policyholders is a result of its stable capacity, unmatched engineering, global reach, loss prevention technology and shared commitment to property preservation," A.M. Best added.
FM Global's financial strength rating from A.M. Best is an independent opinion based on a comprehensive quantitative and qualitative evaluation of the company’s balance sheet strength, operating performance and business profile.
About FM Global: Established in 1835, FM Global (www.fmglobal.co.uk) is a US$4.7 billion mutual insurance company, owned and governed by its policyholders, which include more than one of every three FORTUNE 1000 companies and similar sized organisations in more than 130 countries.
FM Global works with many of the world’s largest organisations to develop robust property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. In recent years, FM Global has been named “Best Property Insurer in the World” by Euromoney magazine, “Best Global Property Insurer” by Global Finance magazine and received the prestigious Queen’s Award for Enterprise. The company is rated A+ (Superior) by A.M. Best and AA (Very Strong) by Fitch Ratings. In the United Kingdom, FM Global is the communicative name for FM Insurance Company Limited, which is regulated by the Financial Services Authority.