Released – FM Global's latest financial strength ratings | Insurance Business Canada
FM Global, a commercial property insurer and a leader in loss prevention and business continuity, has released its latest ratings and outlooks from Fitch Ratings and S&P Global Ratings.
FM Global's ratings from Fitch
FM Global has received a “AA” (very strong) financial strength rating and a “stable” outlook from Fitch.
Fitch's rating affirmation “reflects FM Global's long-term underwriting profitability, very strong capitalization, and 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,” FM Global said in a press release.
FM Global's ratings from S&P Global Ratings
FM Global has received an “A+” financial strength rating and a “stable” outlook from S&P Global Ratings.
S&P Global Ratings described FM Global as the “world's largest commercial property insurer and a formidable leader in specialised engineering-based property underwriting and research.”
The credit rating agency highlighted FM Global's highly valued customised loss prevention solutions complementing large commercial property products and solid long-term underwriting performance.
It added that FM Global's “highly regarded reputation for engineering expertise in assessing client risks to prevent and mitigate losses gives it a significant commercial advantage over competitors, as shown by its high client retention and generally favourable underwriting performance.”
FM Global, established nearly two centuries ago and entered the Asia-Pacific region 50 years ago, recently introduced its new head of global middle-market division.