AM Best has affirmed the financial strength rating of FM Insurance Company (FMI) as A+ (excellent). It said the rating outlook was stable.
It said the rating reflected FMI's superior business position and operating performance and maintenance of superior stand-alone risk-adjusted capitalisation.
A further factor in the rating was FMI's status as a core subsidiary to its parent company, Factory Mutual Insurance Company, which has a current rating of A+ (superior), said AM Best.
The main offsetting factor was FMI's limited diversification of business line, concluded the ratings agency.
