LONDON, UK—For another consecutive year, FM Global, one of the world’s largest commercial property insurers, has received an A+ (Superior) financial strength rating affirmation with a “stable” outlook from AM Best. The rating also applies to the company’s affiliates, including Affiliated FM Insurance Company (AFM), FM Insurance Company Limited, FM Insurance Europe S.A. and Appalachian Insurance Company.
The insurance ratings company indicated “the rating reflects FM Global’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.”
In its rating summary, AM Best pointed out the “long-term resilience” of the mutual insurance company’s balance sheet, “solid growth in surplus,” and “policyholder protections within its contractual coverages.”
AM Best also highlighted FM Global’s “long history” and “unique market position” serving policyholders who include “highly recognizable corporate brands” with “highly protected risk(s).”
It noted FM Global has “superior knowledge of (those policyholders’) risks,” provides “expedient settlement of claims” and actual losses come in “well below modeled outcomes in most cases.”
FM Global also is rated highly by Fitch (‘AA’ (Very Strong)) and S&P Global Ratings (‘A+’).
About FM Global
Established nearly two centuries ago, 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 1000 companies. They work with FM Global to better understand the hazards that can impact their business continuity in order to make cost-effective risk management decisions, combining property loss prevention with insurance protection.