Standard and Poor's (S&P) Ratings Services raised its rating for Fireman's Fund Insurance Co. from A+ to AA-.' One year ago, S&P upgraded the company from an A to A+.
S&P noted that the upgrade reflects its enhanced view of the strategic position of Fireman's Fund to its parent, the higher-rated Allianz SE.
The rating outlook is negative based primarily on factors facing the insurance sector, commodity pricing and the economy overall.
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