FM Global enjoys “AA” financial rating in Fitch’s coronavirus stress test

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FM Global has received a financial strength rating of “AA” (Very Strong) and a “stable” outlook from Fitch Ratings, after the credit rating agency conducted an analysis to determine how resilient insurers’ balance sheets are amid the COVID-19 crisis.

This so-called insurer “stress test” was based on set criteria and assumptions related to how the coronavirus could affect insurers, and how prepared the insurers are to meet financial commitments despite the outbreak’s economic impact.

Fitch Ratings said that the ratings reflect FM Global’s “long-term underwriting profitability, very strong capitalisation and competitive advantages derived from the company’s engineering expertise and global

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U.S. banks to defend dividend payments in stress tests: FT

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FILE PHOTO: The U.S. Federal Reserve Building is pictured in Washington, March 18, 2008. REUTERS/Jason Reed/File Photo

NEW YORK (Reuters) – U.S. banks are expected to defend their dividend payments when they submit their annual capital plans to the Federal Reserve on Monday for the upcoming stress tests, the Financial Times reported on Sunday, citing people familiar with the situation.

U.S. lenders face growing pressure to follow their European counterparts and non-financial companies and cut dividends, as the coronavirus crisis puts a record number of people out of work, which could make it harder for borrowers to repay loans. Banks

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