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By Kelly L. Anderson
PBN Staff Writer
JOHNSTON – Insurance-ratings company A.M. Best has affirmed FM Global’s “Superior” financial performance rating and “stable” rating outlook.
In affirming the distinction, A.M. Best noted the commercial property insurer’s “very strong capitalization,” “solid operating performance” and “market leadership position in the commercial property market.”
A.M. Best assigns an A+ rating to those insurers with a very strong ability to meet their ongoing obligations to policyholders.
“FM Global is a market leader among providers of commercial property insurance,” said A.M. Best, noting that the insurer serves a significant number of Fortune 1000 companies worldwide.
“FM Global remains one of the prominent underwriters of highly protected risk within the commercial property market and is widely recognized throughout the industry for its extensive loss control, risk management and engineering capabilities.”
A.M. Best also acknowledged FM Global’s “very conservative approach to risk management” that permeates all aspects of its operations. Additionally, FM Global was recognized for how the company is able to “consistently retain more than 90 percent of its policyholders.