IMT Insurance Group adds Eden, retains A- rating amid capital recovery efforts

AM Best assigned an A- (Excellent) rating to Eden Insurance Company and removed the “under review with negative implications” status for IMT Insurance and Wadena Insurance Company, affirming their A- ratings. However, the outlook for all three remains negative.

Eden, part of the West Des Moines-based IMT Insurance Companies, was created to deepen the group’s presence in the farm mutual market. It will operate under a 100% quota share reinsurance agreement with IMT Insurance Company, along with Wadena, reflecting its strategic but fully supported role within the group.

The ratings update follows capital management actions initiated by IMT after a downgrade in August 2024 tied to weather-driven underwriting losses and inflationary pressures. Steps taken included retention adjustments, reinsurance agreements, and exposure reductions, helping stabilize risk-adjusted capitalization.