Best’s News & Research Service - December 18, 2007 03:58 PM (EST)
A.M. Best Upgrades Rating of IMT Insurance Company; Revises Outlook to Stable
OLDWICK, N.J. //BestWire// - A.M. Best Co. has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and assigned an issuer credit rating (ICR) of “a” to IMT Insurance Company (IMT) (West Des Moines, IA).The outlook for the FSR has been revised to stable from positive, and the outlook assigned to the ICR is stable.
These rating actions reflect IMT’s strong capitalization and favorable operating performance in recent years. The ratings also acknowledge the company’s long-standing local market presence and solid agency relationships.
Partially offsetting these positive rating factors are IMT’s above average expense structure and its geographic concentration, primarily in Iowa. The outlook is based on IMT’s strong capitalization, the expectation of continued favorable performance and conservative operating strategy.
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