A.M. Best Affirms Rating of FM Insurance Company Limited.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) of FM Insurance Company Limited (FMI FMI Fondo Monetario Internacional (Spanish: International Monetary Fund) FMI Fonds Monétaire International FMI For More Information FMI Food Marketing Institute FMI Fundo Monetário Internacional ) (United Kingdom). The rating outlook remains stable. A.M. Best regards FMI as a core subsidiary of its ultimate parent, Factory Mutual Insurance Company, a U.S.-based mutual property insurer. The rating reflects FMI's excellent prospective underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. performance (A.M. Best believes a combined ratio below 100% is likely in 2004), supported by the company's strict approach to risk assessment. FMI is a leading underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. of highly protected risks within the commercial property market benefiting from its extensive loss control, risk management and engineering capabilities. The company writes business in the United Kingdom, continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. and Australia. FMI's consolidated risk-adjusted capital position is likely to remain superior in 2004 despite increasing its premium retention to 20% (up from 10% in 2003). FMI continues to have a comprehensive reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. programme in place with the parent company and a number of highly-rated third party reinsurers. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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