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.

"The positive outlook reflects the potential for the insurer to achieve further integration and success with Allianz group and its North American affiliates with regards to enterprise risk management as well as shared services and expense synergies," Mr. Gross added.

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