Press Release

Remember A.L. Williams? How Primerica Shed Its Image as an Insurance Industry Pariah

CONTACT: Jeffrey Dunsavage
(908) 439-2200, ext. 5618
Dunsavj@ambest.com

OLDWICK, N.J., Feb. 11, 1997--As much of the life insurance industry dodges charges of misconduct, a once-vilified industry pariah--the company formerly known as A.L. Williams--has emerged unscathed, and perhaps even a role model for its lawsuit- weary rivals.

Indeed, A.M. Best Co. recently upgraded Primerica Life Insurance Co.--the underwriting arm of A.L. Williams' successor company, Primerica Financial Services-- to "A" from "A-". The rating agency cited, among Primerica's many marketing and cross- marketing strengths, its increasingly aggressive emphasis on market-conduct compliance.

An article in the February life/health edition of Best's Review describes how this most unorthodox of insurance companies, operating under the Travelers Group's umbrella since 1994, has transformed itself into a distribution engine for a financial services powerhouse. Primerica operates alongside Smith Barney, Travelers Life & Annuity, Travelers/Aetna Property Casualty Corp. and Commercial Credit Co.

The company still has critics--some of them within Travelers--who claim its agents delude unwary customers and damage the reputation of the life insurance industry. However, as one mainline insurer after another falls victim to multimillion-dollar policyholder lawsuits, Primerica Financial Services' core product--term life insurance-- insulates it from sales abuses associated with cash value policies.

Moreover, the company has one of the strongest compliance programs in the industry, according to Michael L. Albanese, vice president in the life/health division of A.M. Best.

Members of the media can obtain copies of the Best's Review article in its entirety by calling Jeffrey Dunsavage at (908) 439-2200, ext. 5618.

A.M. Best Co., established in 1899, is America's oldest and most widely recognized insurance rating and information source.

A.M. BEST COMPANY, INC.
Ambest Road, Oldwick, NJ 08858		 Copyright © 1997 by A.M. Best Company, Inc.