Standard & Poor's Ratings Services raised its financial strength and local currency long-term counterparty credit ratings on three Japanese insurers. S&P said outlooks for the three are stable.
The companies are Aioi Insurance Co., Ltd., rating raised to "A-plus" from "A;" Fuji Fire & Marine Insurance Co., rating raised to "A-minus" from "triple-B-plus;" and Kyoei Fire & Marine Insurance Co., raised to "A-minus" from "triple-B-plus."
S&P said the upgrades reflect strengthening of competitive position and improved capitalization.
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