TEXT-S&P affirms Federated Life Insurance Co. 'Api' rating

(The following statement was released by the rating agency) Rating Action On Sept. 21, 2012, Standard & Poor's Ratings Services affirmed its 'Api' counterparty credit and financial strength ratings on Federated Life Insurance Co. (FLIC).


The ratings on FLIC are based on the company's very strong capital adequacy, as measured by our model, and very strong operating performance, based on its statutory pretax return on assets through year-end 2011.

Based in Owatonna, Minn., FLIC is a wholly owned subsidiary of Federated Mutual Insurance Co. (Federal Mutual), and licensed in 48 states and the District of Columbia. Federated Mutual, which commenced operations in 1904, is a private mutual insurance company that writes property/casualty and life insurance, including accident and health, workers' compensation, auto insurance, ordinary and group life, and annuities. We rate FLIC on a stand-alone basis.

Related Criteria And Research Ratings Bearing A "pi" Subscript: Methodology And Assumptions, Feb. 9, 2011 Ratings List Ratings Affirmed Federated Life Insurance Co. Counterparty Credit Rating Financial Strength Rating Api

This unsolicited rating(s) was initiated by Standard & Poor's. It may be based solely on publicly available information and may or may not involve the participation of the issuer. Standard & Poor's has used information from sources believed to be reliable based on standards established in our Credit Ratings Information and Data Policy but does not guarantee the accuracy, adequacy, or completeness of any information used.

Complete ratings information is available to subscribers of RatingsDirect on the Global Credit Portal at

. All ratings affected by this rating action can be found on Standard & Poor's public Web site at . Use the Ratings search box located in the left column. (New York Ratings Team)

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