Commercial Property Insurer’s Favorable Underwriting Performance and Loss Prevention Engineering Expertise is Recognized
JOHNSTON, R.I., USA—Fitch Ratings has affirmed the 'AA' (Very Strong) financial strength rating of FM Global and stable rating outlook.
“The ratings continue to reflect FM Global's strong capital and long-term underwriting profitability, competitive advantages derived from the company's engineering expertise and benefits drawn from the company's mutual company status,” Fitch reported.
Fitch noted the strength of FM Global’s long-term operating performance and capital position and how the company’s surplus has been able to withstand large catastrophe losses that have occurred this year.
“FM Global's favorable underwriting performance is due in large part to the company's ability to incorporate its engineering expertise into its risk selection and underwriting processes,” Fitch added. “The company's engineering capabilities and loss prevention services (are) key advantages that are difficult for competitors to replicate. This expertise will result in underwriting results that are consistently better than (its) peers.”