Standard & Poor’s Ratings Services has raised its counterparty credit and financial strength ratings on Novato, Calif.-based Fireman’s Fund Insurance Co. and affiliates to “single-A-plus” from “single-A.” The outlook is positive.

S&P credit analyst Michael Gross said the upgrade reflects the insurer’s “significant progress” in strengthening its business while improving its overall risk management working with its parent company Allianz.

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