Business Excellence Awards
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By Michael Souza
PBN Staff Writer
JOHNSTON – For the seventh consecutive year, FM Global has received a “very strong” AA financial strength rating by Fitch Ratings and been given a “stable” rating outlook.
According to Fitch, the rating is reflective of the company’s strong capital and long-term underwriting profitability, competitive advantages from the company’s engineering expertise and a global presence in specialty commercial property insurance markets. FM Global is a worldwide commercial and industrial property insurer based in Johnston.
In issuing the rating, Fitch noted that the company has remained strong and its performance continues to maintain a favorable long-term underwriting performance due to the company’s ability to incorporate engineering expertise into the risk selection and underwriting processes. In addition, the company’s engineering capabilities and loss prevention services were identified as key advantages that are difficult for competitors to replicate. According to Fitch, this advantage and expertise repeatedly results in underwriting results that are consistently better than other insurers.