FM Global has announced that it received strong ratings from two prominent rating agencies.
Fitch Ratings has affirmed FM Global's rating at AA (very strong) with a stable outlook, while S&P Global Ratings revised its outlook on the insurer from stable to positive and affirmed an A+ financial strength rating.
Fitch's rating reflects FM Global's consistent underwriting profitability, robust capitalisation, and the competitive edge the company holds due to its engineering expertise and global presence in specialty commercial property markets. Fitch also noted the advantages FM Global gains from its status as a mutual company.
The positive revision from S&P Global is based on FM Global's improved results and performance, which stands out relative to its peers. The agency highlighted the insurer's extremely strong capitalization, which is seen as sufficient to absorb extraordinary losses. S&P Global's positive outlook is further influenced by FM Global's strong competitive profile, underpinned by innovative loss prevention solutions and its prominence in the large commercial property market.
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