A.M. Best Affirms Rating of FM Insurance Company Limited.
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 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 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 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 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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|Date:||Aug 31, 2004|
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