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, citing the insurer as “a market leader among providers of commercial property insurance.” The mutual insurance company has maintained this rating for more than a decade.
According to A.M. Best, the rating reflects FM Global’s “superior level of risk-adjusted capitalisation, historically strong operating performance, its leadership position in the commercial property market and the benefits gained from its advanced approach to loss prevention and property conservation.”
The ratings company noted that FM Global serves “a significant number of Fortune 1000 companies worldwide” and acknowledged the insurer’s “ability to consistently retain more than 90 percent of its policyholders is a result of its stable capacity, unique level of engineering resources, international reach, loss prevention technology and shared commitment to property preservation.”
The rating is an independent opinion based on a comprehensive quantitative and qualitative evaluation of the company’s balance sheet strength, operating performance and business profile.
Established in 1835, 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 organisations, including one of every three FORTUNE 500 companies. They work with FM Global to better understand the hazards that can impact affect their business continuity in order to make cost-effective risk management decisions combining property loss prevention with insurance protection.