A.M. Best Co. has upgraded the financial strength rating of Harrisburg, Pa.-based Millers Capital Insurance Company from "B-double-plus" to "A-minus." The rating agency also upgraded the insurer's issuer credit rating from "triple-b-plus" to "a-minus."

The Oldwick, N.J.-based rating firm said the actions reflect the commercial insurer's solid risk-adjusted capitalization, improved profitability and more favorable loss reserve development trends that have emerged in recent years.

"These improvements have been driven by corrective actions implemented by management aimed toward improving underwriting profitability and addressing the variability in and adequacy of loss reserves."

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