Canadian Underwriter

FM Global gets passing grade from Fitch

February 17, 2004   by Canadian Underwriter

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Fitch Ratings has graded FM Global with a “AA- (very strong)” financial rating with a “stable outlook” primarily based on the U.S.-based insurer’s competitive positioning, market expertise, risk control and the healthy state of its balance-sheet.
Fitch notes that FM Global’s positioning in the “highly protected risk” (HPR) market combined with its sound underwriting practices provides the company with competitive marketing advantages. The rating agency also points to FM Global’s extensive expertise in engineering staff which has resulted in better risk management by the insurer in its underwriting. “These factors, coupled with hard market conditions in the property insurance market have contributed to the company’s [FM Global] strong premium growth and underwriting results in recent years,” Fitch states.

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