AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aa” (Superior) of
The ratings reflect FM Global’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).
The group has reported profitable underwriting results in 2019 and 2020, as well as the first nine months of 2021, after two consecutive years of underwriting losses in 2017 and 2018, primarily due to significant catastrophe activity. Strong investment gains garnered on FM Global’s sizeable investment portfolio, including a large allocation to equities, have further enhanced bottom-line results, driving solid growth in surplus. With FM Global’s rebound in profitability and corresponding surplus growth, member credits have been approved to be paid in 2022 as distribution of excess profits to its policyholders after being curtailed in the three prior years.
The stable outlooks reflect AM Best’s expectation that FM Global’s risk-adjusted capitalization and operating performance will continue to exhibit generally excellent trends. AM Best expects that
The FSR of A+ (Superior) and the Long-Term ICRs of “aa” (Superior) have been affirmed with stable outlooks for
Appalachian Insurance Company
Affiliated FM Insurance Company
FM Insurance Company Limited
FM Insurance Europe S.A.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in
Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
src="https://cts.businesswire.com/ct/CT?id=bwnewssty=20220113005905r1sid=acqr8distro=nxlang=en" style="width:0;height:0" />
Senior Financial Analyst
+1 908 439 2200, ext. 5573
Manager, Public Relations
+1 908 439 2200, ext. 5159
+1 908 439 2200, ext. 5394
+1 908 439 2200, ext. 5644
Source: AM Best