AM Best revises outlooks to negative for two Iowa insurance companies
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AM Best revises outlooks to negative for two Iowa insurance companies

Shelby Rosenberg
December 19, 2023
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Twin Tornadoes

AM Best has revised the outlooks to negative from stable and affirmed the FSR of ‘A’ and the long-term ICR of ‘a’ of IMT Insurance Company and its affiliate, Wadena Insurance Company.

They are based in West Des Moines, Iowa, and collectively referred to as IMT Insurance Companies.

The downgrade reflects the impact of IMT’s sizable decline in risk-adjusted capitalization, driven mainly by a substantial decline in policyholder surplus resulting from deteriorating...

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