The “AA-” insurer FSR on Factory Mutual Insurance Company (FM Global) was affirmed by Fitch.
Also, Fitch assigned an “AA-” insurer FSR to FM Global’s Appalachian Insurance Company (Appalachian Insurance) and Affiliated FM Insurance Company (Affiliated FM) subsidiaries. The prognosis for all of the ratings is stable.
Rating factors include FM Global’s strong capitalization, strong competitive placement in the highly protected risk (HPR) market, and improving underwriting trends. Somewhat offsetting these positives is the competitive nature of the HPR market, along with the market’s underwriting volatility.
Was this article valuable?
Here are more articles you may enjoy.
Grand Jury Indicts ‘Hole in Won’ Owner on Prize Insurance Fraud Charges 
Florida Public Adjuster, Renter Charged With Filing Claim on Rental Home 
Harvard Study Again Stirs the Pot on Demotech Ratings of Florida Carriers 
Progressive Records Five-Fold Increase in Q1 Net Income From This Issue
