A.M. Best Co. upgraded the financial strength ratings to “A” (excellent) from “B” (fair) of Iowa Mutual Insurance Company and Iowa American Insurance Company both of De Witt, Iowa. The ratings have been removed from under review. The rating outlook is stable. These rating actions follow the close of the strategic alliance with Motorists Insurance Group based in Columbus, Ohio. Under the agreement, Iowa Mutual and Iowa American have both become participants in Motorists Insurance Group’s inter-company pool with Motorists having majority control of Iowa Mutual’s and Iowa American’s boards of directors.
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