AM Best has affirmed the financial strength rating of A (excellent) and the long-term issuer credit ratings of “a” (excellent) of Vermont-domiciled Spirit Insurance Company and Cayman Islands-domiciled Radius Insurance Company. The outlook for the ratings is stable.
Spirit and Radius are both captive insurers of Texas-based multinational energy company, Phillips 66 and both have the benefits of financial flexibility and support from their parent.
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