FM Global, one of the world's largest business property insurers, has maintained an "A+" (Superior) financial strength rating and "stable" rating outlook from A.M. Best, despite the current economic slump adversely affecting many other companies' financial performance. The recently released A+ rating affirmation is assigned to those insurers with "a very strong ability to meet their ongoing obligations to policyholders," according to A.M. Best.
"The rating reflects FM Global's extremely strong capitalisation, solid operating performance, benefits from the group's loss prevention technology and property conservation, and market leadership position in the commercial property market," acknowledged A.M. Best. Additionally, FM Global's stable rating outlook reflects the company's "continued strong capitalisation, history of profitable operating results and leadership position" in providing commercial property insurance coverage worldwide.
A.M. Best noted that FM Global is a "market leader" that serves "a significant number of FORTUNE 1000 companies worldwide. Many of the companies have been with FM Global for more than 25 years". The ratings agency pointed to FM Global's "ability to consistently retain more than 90 per cent of its policyholders" as a result of its "stable capacity, unmatched (loss prevention) engineering, global reach, loss prevention technology, shared commitment with its policyholders to property preservation and the strategic use of membership credits" for its policyholders.
Commenting on FM Global's future prospects, the ratings agency said it expects that "solid earnings and strong cash flows over the near term will continue to grow FM Global's invested asset base."