FM Global retains ‘A+’ rating from A.M. Best

FM Global has once again retained its
FM Global has once again retained its "Superior" financial strength rating from insurance ratings agency A.M. Best.

JOHNSTON – FM Global has once again been given an “A+,” or “Superior,” financial strength rating by A.M. Best, a ratings company for the insurance industry. In addition, Best gave the state’s largest property and casualty insurer a “aa” rating on long-term debt, and a “stable” outlook.
In a news release, FM Global quoted Best saying the insurer was “a market leader among providers of commercial property insurance.” FM Global said that it has retained the “Superior” rating from Best for more than a decade.

According to the release, Best said the ratings for FM Global reflected its “superior level of risk-adjusted capitalization, historically strong operating performance, its leadership poisitoin in the commercial property market and the benefits gained from its approach to loss prevention and property conservation.”
In addition, the ratings agency praised FM Global for its “unique level of engineering resources, international reach, loss prevention technology and shared commitment to property preservation.”

Over the summer, The Ward Group named FM Global to its 2014 list of the top-performing property-casualty insurers, based on five years of superior performance. Earlier, FM Global had been named the “World’s Best Supply Chain Risk Insurance Provider by Global Finance magazine for the third year in a row.
FM Global posted net income of $1 billion in 2013, a 31.9 percent increase on its 2012 total, even as net revenue fell to $4.02 billion from $4.06 billion. The insurer also announced at the time that it had a 95 percent client retention rate in 2013.

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