FM Global receives rating affirmation from AM Best | Insurance Business Canada
FM Global has received an A+ (Superior) financial strength rating affirmation from AM Best. The rating agency also gave FM Global a “stable” outlook. The rating also applies to the companies affiliates, including FM Insurance Europe S.A., FM Insurance Company Limited, Appalachian Insurance Company and Affiliated FM Insurance Company (AFM).
The rating “reflects FM Global’s balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, favourable business profile and appropriate enterprise risk management,” AM Best said.
AM Best said that the insurer had a “balance sheet that has demonstrated an ability to withstand catastrophes year over year” and “a history of protecting its policyholders” due to “superior knowledge of (their) risks and expedient settlement of claims.”
The rating agency also praised FM Global for its heavy reinvestment in its engineering-based approach and its innovation in cyber risk assessment and flood mapping and modelling.