WINDSOR, UK — FM Global, one of the world’s largest business property insurers, has received a ‘AA’ (Very Strong) financial strength rating affirmation from Fitch Ratings with a Rating Outlook of “Stable.”
According to Fitch, “the ratings continue to reflect FM Global’s strong capital and long-term strong underwriting profitability, competitive advantages derived from the company’s engineering expertise and benefits drawn from the company’s mutual company status.” The rating applies to members of the FM Global Group, including Affiliated FM Insurance Company and FM Insurance Company Limited.
Fitch noted that “FM Global’s favourable underwriting performance is due in large part to the company’s ability to incorporate its engineering expertise into its risk selection and underwriting processes.” The ratings agency added that it views FM Global’s engineering and property loss prevention services as “key advantages that are difficult to replicate and believes this expertise will result in sustainable underwriting results that are better than peers.”
About FM Global
FM Global (www.fmglobal.co.uk ) 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.