S&P Global Ratings has affirmed FM Global’s ‘A+’ financial strength rating and “Stable” outlook, remarking on the insurer’s “long-standing position as the global leader in commercial property insurance.” The rating also applies to FM Global’s middle market affiliate AFM and its subsidiaries FM Insurance Company Limited and FM Insurance Europe S.A.
The ratings agency noted FM Global’s “market-leading reputation,” “highly supportive capital base,” and “very strong competitive position supported by its highly regarded reputation for assessing risk to prevent and mitigate loss…in the large commercial property market.”
S&P added, “FM Global's extremely strong capital adequacy and generally strong operating results also allow it to absorb catastrophe losses and financial market volatility.” S&P said it viewed the company’s “expertise as a competitive advantage over peers, illustrated by its high client retention and generally favorable long-term underwriting performance.”
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 organizations, 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. FM Global is rated ‘A+’ (Superior) by A.M. Best and ‘AA’ (Very Strong) by Fitch.