LONDON, UK—Commercial and industrial property insurer FM Global has received a ‘AA’ (Very Strong) financial strength ratings affirmation from Fitch with a “Stable” outlook. The ratings also apply to the company’s affiliates including FM Insurance Company Limited and Affiliated FM Insurance Company.
Acknowledging FM Global’s strong 2013 financial results and operating performance, the insurance ratings organisation indicated “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.”
Fitch added that it “believes that FM Global's favourable 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 ratings agency added that it “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.”
About FM Global
For nearly two centuries, many of the world's largest organisations have turned to FM Global (www.fmglobal.co.uk) to develop cost-effective property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. With clients in more than 130 countries, 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, as well as the 2013 CIR Risk Management Insurance Partnership of the Year Award. In the United Kingdom, FM Global is the communicative name for FM Insurance Company Limited, which celebrated its 50thanniversary of international operation in 2013.