S&P has issued its first ever interactive rating to FM Global noting the company’s extremely strong capital and earnings.
JOHNSTON, R.I., USA—Commercial and industrial property insurer FM Global has received an ‘A+’ financial strength and counterparty credit rating with a “Stable” outlook from Standard & Poor’s (S&P) Rating Services. This first ever interactive S&P rating assignment to FM Global also applies to the company’s affiliates: Affiliated FM Insurance Company and FM Insurance Company Limited.
S&P indicated the rating reflects its view of FM Global’s “very strong business risk profile and strong financial risk profile, based on the company’s market-leading competitive position in the large commercial property segment and extremely strong capital and earnings.”
The ratings organisation noted that FM Global “works diligently with its insureds to help foster best-in-class loss-prevention plans. FM Global’s highly regarded reputation for using its engineering expertise to assess client risks to help prevent and mitigate loss gives it a significant commercial advantage over competitors.”
S&P also acknowledged the “significant depth and breadth” of FM Global’s management team and pointed out that the company provides “significant competitive property insurance capacity and offers best-in-class products and services that keep pace with policyholder/owner needs.”
Established in 1835, FM Global is a US$5.6 billion 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 500 companies. They work with FM Global to better understand the hazards that can affect 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.