AM Best affirms FM Global’s A+ (Superior) financial strength rating

For another consecutive year, FM Global, one of the world’s largest commercial property insurers, has received an A+ (Superior) financial strength rating affirmation with a “stable” outlook from AM Best. The rating also applies to the company’s affiliates, including Affiliated FM Insurance Company (AFM), FM Insurance Company Limited, FM Insurance Europe S.A. and Appalachian Insurance Company.

The insurance ratings company indicated “the rating reflects FM Global’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.”

In its rating summary, AM Best pointed out the “long-term resilience” of the mutual insurance company’s balance sheet, “solid growth in surplus,” and “policyholder protections within its contractual coverages.”

AM Best also highlighted FM Global’s “long history” and “unique market position” serving policyholders who include “highly recognisable corporate brands” with “highly protected risk(s).”

It noted FM Global has “superior knowledge of (those policyholders’) risks,” provides “expedient settlement of claims” and actual losses come in “well below modeled outcomes in most cases.”

FM Global also is rated highly by Fitch (‘AA’ (Very Strong))  and S&P Global Ratings (‘A+’).