AM Best has affirmed the A+ (superior) financial strength rating of FM Insurance Company Ltd UK (FMI), with a stable outlook.
It said it regarded FMI as a core subsidiary to parent company Factory Mutual Insurance Company, a US-based mutual property insurer.
The rating reflected FMI's excellent prospective underwriting performance, supported by the company's strict approach to risk assessment, said AM Best.
The ratings agency said it believed FMI was likely to have a combined ratio of below 100% in 2004.
FMI is a leading underwriter of highly-protected risks within the commercial property market benefiting from its extensive loss control, risk management and engineering capabilities. The company writes business in the UK, Continental Europe and Australia.
