What’s new: In brief (March 09, 2005)

The Risk & Insurance Management Society is established in its new location at 1065 Avenue of the Americas, 13th Floor, New York, NY, 10018. Phone and fax numbers and email addresses remain the same.

FM Global’s ratings outlook has been raised to “positive” from “stable” by rating agency Fitch. At the same time, FM Global’s “AA-” (very strong) rating has been affirmed, based on the insurer’s “strong competitive position in the market for highly protected risks, engineering and underwriting expertise and solid balance sheet”. Fitch looks forward to sustained underwriting results from FM Global, specifically as it combines its engineering expertise with its risk selection and underwriting processes.

Aviva plc’s ratings remain unchanged following word the U.K.-based insurer has bid GBP1.1 billion for U.K. motoring services firm RAC. A.M. Best and Standard & Poor’s both say the acquisition is consistent with Aviva’s goal of expanding its presence in the U.K. motor sector. Both raters also point to Aviva’s strong 2004 results in affirming their ratings (“A+” in both cases).