A.M. Best Downgrades and Assigns Ratings to Teachers Auto Insurance Company of New Jersey Due to Acquisition

Business Wire, June 28, 2007

OLDWICK, N.J. -- A.M. Best Co. has downgraded the financial strength rating (FSR) to B (Good) from A- (Excellent) and assigned an issuer credit rating of "bbb" to Teachers Auto Insurance Company of New Jersey (Teachers) (Red Bank, NJ), formerly known as Lancer Casualty Company (Long Beach, NY). The outlook for both ratings is stable.

These rating actions are a result of Teachers' acquisition by the High Point Group (Red Bank, NJ). Concurrently, the FSR of B (Good) has been affirmed and ICRs of "bbb" have been assigned to High Point Group and its members. The outlook for these ratings is stable.

The FSR of B (Good) has been affirmed and ICRs of "bbb" have been assigned to the High Point Group and its following members:

* High Point Preferred Insurance Company

* High Point Property and Casualty Insurance Company

* High Point Safety and Insurance Company

* Twin Lights Insurance Company

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.> Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com.