S&P Global Ratings Affirms FM’s Financial Strength Rating at ‘AA-’

JOHNSTON, R.I., USA, Dec. 5, 2025 - Commercial property insurer FM announced today that S&P Global Ratings, one of the world's leading ratings agencies, affirmed its financial strength rating of 'AA-' with a stable outlook, reflecting FM's "strong competitive position" and "leadership in the large commercial property market."

In its report, S&P Global Ratings wrote that "FM's engineering-driven underwriting approach, led by technically trained underwriters and claims adjusters, provides a competitive edge, reflected in high client retention and strong underwriting results." S&P Global Ratings added that the "stable outlook reflects FM's excellent capitalization, underpinned by its very strong competitive position and consistently solid operating earnings. We expect FM to continue outperforming industry peers in terms of underwriting results and to maintain its favorable comparative standing."

About FM

Established nearly two centuries ago, FM is a leading mutual insurance group whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world's largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.

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