FM GLOBAL'S financial strength ratings have been reaffirmed by both AM Best and Fitch.

AM Best confirmed its A+ (superior) rating and Fitch affirmed its AA- (very strong) rating with a stable outlook.

Both ratings came after FM Global reported a net income of £252.4m for 2000.

AM Best said the rating reflected FM Global's “strong capitalisation, prominent market position and outstanding reputation within the commercial property market”.

Fitch attributed the rating to “FM Global's strong capitalisation, good competitive position in the highly protected risk market and improving underwriting trends”.