Fitch Ratings has assigned an AA- insurer financial strength rating to FM Insurance Company (FMIC), with a stable outlook.
It said the rating reflected its view that FMIC is a core part of the Factory Mutual Group, known as FM Global, which has an AA- rating.
It said the subsidiary benefits from significant reinsurance support from its parent as well as a policy guarantee level. It has strong stand-alone capitalisation and operating performance, said the ratings agency.
