FM Global's 'AA' rating confirmed

Fitch has confirmed FM Global ‘AA’ (Very Strong) financial strength rating.

The rating agency also described the global business property insurer's rating outlook as “stable”.

Fitch said: “The ratings continue to reflect FM Global’s strong capital and long-term strong underwriting profitability, competitive advantages derived from the company’s engineering expertise and benefits drawn from the company’s mutual company status.” The rating applies to members of the FM Global Group, including Affiliated FM Insurance Company and FM Insurance Company Limited.

“FM Global’s favourable underwriting performance is due in large part to the company’s ability to incorporate its engineering expertise into its risk selection and underwriting processes.”

The ratings agency added that it views FM Global’s engineering and property loss prevention services as “key advantages that are difficult to replicate and believes this expertise will result in sustainable underwriting results that are better than peers.”