WINDSOR, UK, —Insurance ratings company A.M. Best has affirmed FM Global’s A+ (Superior) financial performance rating and “stable” rating outlook, citing the commercial property insurer’s “conservative underwriting leverage, solid earnings and strong cash flow.” An A+ rating is assigned to those insurers with “a very strong ability to meet their ongoing obligations to policyholders,” according to A.M. Best.
A.M. Best noted that “the ratings affirmation reflects FM Global’s very strong capitalisation, solid operating performance, benefits from its loss prevention technology and property conservation, and its market leadership position in the commercial property market.” A.M. Best added that the ratings outlook reflects its view that FM Global’s “capitalisation will remain more than supportive of the current rating, growing through strong earnings and its leadership position in providing property coverage worldwide.”
The ratings company noted that FM Global is a “market leader” with “solid operating performance” that serves “a significant number of FORTUNE 1000 companies worldwide, many of which have been with FM Global for more than 25 years” and pointed to the company’s “ability to consistently retain more than 90 percent 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.
FM Global’s financial strength rating from A.M. Best is an independent opinion based on a comprehensive quantitative and qualitative evaluation of the company’s balance sheet strength, operating performance and business profile.
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.