A.M. Best Affirms Ratings of Primerica Life

Business Wire, Nov 2, 2006

OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Superior) and the issuer credit ratings (ICR) of "aa" of Primerica Life Insurance Company and its subsidiaries, National Benefit Life Insurance Company and Primerica Life Insurance Company of Canada (collectively known as Primerica Life). These companies are indirect insurance subsidiaries of Citigroup, Inc. (NYSE:C), one of the world's largest financial services companies with consolidated assets of approximately $1.75 trillion.

The rating of Primerica Life is based upon its continued strong profitability, leading position in the U.S. term life insurance marketplace, strong risk-adjusted capitalization and favorable liability profile. In addition, the rating recognizes the considerable strategic and financial advantages the company enjoys as part of the retail distribution division of Citigroup. A.M. Best believes the dedicated distribution source of over 100,000 agents in Primerica Financial Services (PFS) provides significant cross-marketing opportunities for Citigroup's consumer finance products including banking products and loans.

Partially offsetting these strengths is Primerica Life's operational concentration in commodity term life insurance products, the competitive challenges inherent in the U.S. individual insurance market and high dividend requirements to its ultimate parent.

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.> For current Best's Ratings, independent data and analysis on more than 1,050 health companies and A.M. Best groups, please visit www.ambest.com/health.> A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.