A.M. Best has assigned a Financial Strength Rating (FSR) of A+ (Superior) and a Long-Term Issuer Credit Rating (Long-Term ICR) of "aa" to new group member, FM Insurance Europe SA (FMIE SA). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of "aa" of the members of FM Global Group (FM Global). The outlook of these ratings remains stable. (See below for a detailed listing of the companies.)
The ratings of FM Global reflect its exceptional balance sheet strength, which A.M. Best categorizes as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
In 2017, FM Global established FMIE SA as a European affiliate domiciled in Luxembourg in order to ensure business continuity after the United Kingdom's referendum vote to leave the European Union (EU). The EU business previously written by FM Insurance Co. Ltd. (FMI) (United Kingdom) will be renewed into FMIE SA in 2018. The ratings of FMI and FMIE SA reflect explicit and implicit support from the parent, Factory Mutual Insurance Co. (Johnston, RI), and the wider FM Global group, in particular the reinsurance and policy level financial guarantee. The companies are an important part of FM Global, serving the group's clients outside of North America.