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December 22, 2008 Despite Faltering Economy, Commercial Property Insurer FM Global Maintains A+ (Superior) Financial Strength Rating and Stable Outlook from A.M. BestInsurer’s Extremely Strong Capitalization, Stable Capacity, Unmatched Engineering Services and High Client Retention Rate Highlighted JOHNSTON, R.I., USA—Despite the current economic slump adversely affecting many companies’ performance, commercial property insurer FM Global, one of the world’s largest business property insurers, has maintained an “A+” (Superior) financial strength rating and “stable” rating outlook from A.M. Best. The recently released A+ rating affirmation is assigned to those insurers with “a very strong ability to meet their ongoing obligations to policyholders,” according to A.M. Best. “The rating reflects FM Global’s extremely strong capitalization, solid operating performance, benefits from the group’s loss prevention technology and property conservation, and market leadership position in the commercial property market,” acknowledged A.M. Best. Additionally, FM Global’s stable rating outlook reflects the company’s “continued strong capitalization, history of profitable operating results and leadership position” in providing commercial property insurance coverage worldwide. A.M. Best noted that FM Global is a “market leader” that serves “a significant number of FORTUNE 1000 companies worldwide, many of which have been with FM Global for more than 25 years,” and pointed to the company’s “ability to consistently retain more than 90 percent of its policyholders” as a result of its “stable capacity, unmatched (loss prevention) engineering, global reach, loss prevention technology, shared commitment with its policyholders to property preservation and the strategic use of membership credits” for its policyholders. The ratings company said it expects that “solid earnings and strong cash flows over the near term will continue to grow FM Global’s invested asset base.” FM Global’s financial strength rating from A.M. Best is an independent opinion based on a comprehensive quantitative and qualitative evaluation of the company’s balance sheet strength, operating performance and business profile. FM Global’s clients include one out of every three FORTUNE 1000 companies and similar-sized organizations in more than 130 countries. For nearly 175 years, clients have worked with FM Global to develop robust property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. FM Global ranks 583 among FORTUNE magazine’s largest companies in America and was named “Best Property Insurer in the World” by Euromoney magazine and “Best Global Property Insurer” by Global Finance magazine. ### |
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