A “Bpi” FSR was assigned to Phoenix Indemnity Insurance Co. by S&P. Included among rating factors was the company’s membership in Millers American Group Inc. as well as Phoenix Indemnity’s weak operating performance, potential interest rate risk and geographic concentration, somewhat offset by extremely strong capitalization. Writing mainly private passenger auto with a specialization in nonstandard auto, Phoenix Indemnity is based in Nebraska, domiciled in Arizona and licensed in 24 states.
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