FM Global's A+ --Superior-- Rating Affirmed by A.M. Best in Acknowledgement of Market Leading Performance.JOHNSTON Johnston, town (1990 pop. 26,542), Providence co., N central R.I., a suburb of Providence; inc. 1759. Among its manufactures are jewelry, textiles, and fabricated metals. Johnston is the home of several insurance companies. , R.I. -- Citing "another outstanding year" for FM Global, A.M. Best Company has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. the commercial and industrial property insurer's A+ (Superior) financial performance rating and retained a "stable" outlook on the rating. An A+ rating is assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. by A.M. Best to those insurance companies with "a very strong ability to meet their ongoing obligations to policyholders." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. A.M. Best, the rating reflects FM Global's "leading market position within the commercial property market," its "solid capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. , excellent operating performance," and "demonstrated benefits exhibited in recent years from FM Global's re-underwriting efforts, loss prevention technology and property conservation." A.M. Best indicated it expects "FM Global's leading market position," "future earnings prospects," and "risk-adjusted capitalization" will remain at a level consistent with its current rating, that the company is "expected to continue to post strong returns" and its "solid earnings and cash flow over the near term will continue to grow." "FM Global has emerged as a market leader among providers of commercial property insurance," said A.M. Best citing that FM Global serves "a significant number of Fortune 1000 companies worldwide, many of which have been customers of FM Global for more than 25 years." In addition, the insurance ratings company pointed out "FM Global's ability to consistently retain in excess of 90 percent of its customer base, stems from its stable capacity, unsurpassed engineering, global reach, loss prevention technology and shared commitment to property preservation among its policyholders." A.M. Best also acknowledged that the disbursement DISBURSEMENT. Literally, to take money out of a purse. Figuratively, to pay out money; to expend money; and sometimes it signifies to advance money. 2. of more than US$560 million in membership credit in 2001 and 2004 to eligible policyholders has aided FM Global's client retention. A.M. Best noted that FM Global "has remained a consistent provider of enhanced property engineering technology and insurance solutions to a growing number of insureds" while "many of FM Global's competitors COMPETITORS, French law. Persons who compete or aspire to the same office, rank or employment. As an English word in common use, it has a much wider application. Ferriere, Dict. de Dr. h.t. have exited the market in recent years." |
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