FM Global Maintains Strong Ratings
The global property insurer, located in Johnston, reported that Fitch Ratings awarded the company an AA rating for the sixth straight year.
Note: This is a press release issued by The Perry Group on behalf of FM Global.
For the sixth straight year, Fitch Ratings has affirmed the ‘AA’ (Very Strong) financial strength rating and ‘Stable’ rating outlook for FM Global, the global commercial property insurer headquartered in Johnston.
According to Fitch: “the ratings continue to reflect FM Global’s strong capital and long-term underwriting profitability, competitive advantages derived from the company’s engineering expertise and global presence in specialty commercial property insurance markets, as well as benefits drawn from the company’s mutual company status.” The ratings apply to members of the FM Global group, including Affiliated FM Insurance Company and FM Insurance Company Limited.
The ratings company remarked: “Fitch believes FM Global’s favorable long-term underwriting performance is due in large part to the company’s ability to incorporate its engineering expertise into its risk selection and underwriting processes.” Fitch added that it “views the company’s engineering capabilities and loss prevention services as key advantages that are difficult for competitors to replicate and believes this expertise will result in underwriting results that are consistently better than peers.”
Fitch previously made a similar announcement on Sept. 29, 2011.