TEXT-S&P affirms American Republic Insurance Co


(The following statement was released by the rating agency)

Rating ActionOn Sept. 21, 2012, Standard & Poor's Ratings Services affirmed its 'Api'counterparty credit and financial strength ratings on American RepublicInsurance Co.


The affirmation reflects the company's strong capitalization and strongliquidity as measured by our model. These strengths are offset somewhat by itsweakened operating performance in 2011, as well as the company's product-lineconcentration in the accident and health business.

American Republic Insurance, which is based in Des Moines, Iowa, is a life andhealth insurance company that holds licenses to do business in 49 states andthe District of Columbia. American Republic Insurance is ultimately controlledby American Republic Mutual Holding Co. through an intermediate holdingcompany, American Enterprise Group Inc.

Related Criteria And ResearchRatings Bearing A "pi" Subscript: Methodology And Assumptions, Feb. 9, 2011Ratings ListRatings AffirmedAmerican Republic Insurance Co.Counterparty Credit RatingFinancial Strength Rating Api

(Caryn Trokie, New York Ratings Unit)

((Caryn.Trokie@thomsonreuters.com; 646-223-6318; Reuters Messaging:rm://caryn.trokie.reuters.com@reuters.net))