Millers Ins./Millers Cas. Downgraded

The FSR on The Millers Insurance Co. and its related pool member, The Millers Casualty Insurance Co. (TX) was lowered from “BBpi” to “Bpi” by S&P, which cited continued weak net underwriting results, a decline in surplus volatile reserve levels and a marginal S&P capital adequacy ratio as key rating factors. Millers Insurance mainly writes auto and general liability for agriculture-related businesses.