London, U.K.,—FM Global, one of the world’s largest commercial property insurers, has received an ‘AA’ (Very Strong) financial strength rating affirmation from Fitch and a “Stable” outlook. The rating also applies to the company’s affiliates, including FM Insurance Europe S.A., FM Insurance Company Limited, FM Global de Mexico, S.A. de C.V., Appalachian Insurance Company and Affiliated FM Insurance Company.
According to Fitch, the rating “reflects FM Global's long-term underwriting profitability, very strong capitalisation and 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.”
It noted FM Global “is one of the leading providers of large-limit commercial property capacity” and “the company's risk management sophistication, loss control and pricing expertise have allowed the company to achieve very strong financial performance over the long term.”
The ratings organisation also commented that “FM Global has built a significant franchise in the commercial property market for highly protected risks. Fitch 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
Established nearly 200 years 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.