LONDON, UK, 14th February, 2024 – Commercial property insurer Factory Mutual Insurance Company (“FM Global”) today announced that AM Best, a leading global credit rating agency, news publisher and data analytics provider specialising in the insurance industry, affirmed the company’s Financial Strength Rating (FSR) of A+ (Superior) and Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa” (Superior) with a stable outlook.
“The ratings reflect FM Global’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favourable business profile and appropriate enterprise risk management,” according to AM Best.
AM Best also stated that “FM Global maintains the strongest level of risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio” and a balance sheet with “proven long-term resilience against natural catastrophe losses.”
The 2024 AM Best ratings follow AA and A+ ratings announced in late 2023 by Fitch and S&P Global, respectively, for FM Global.
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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 policyholder-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 four Fortune 500 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.