A.M. Best Affirms Debt and Financial Strength Ratings of Infinity Prop

A.M. Best Affirms Debt and Financial Strength Ratings of Infinity Property & Casualty and Assigns Issuer Credit Ratings

    Business Editors

    OLDWICK, N.J.--(BUSINESS WIRE)--April 21, 2005--A.M. Best Co. has affirmed the debt rating of "bbb" of Infinity Property & Casualty Corporation's (IPCC) (NASDAQ: IPCC) (Birmingham, AL) $200 million 5.50% senior unsecured notes due 2014. Additionally, A.M. Best has affirmed the financial strength rating of A (Excellent) of Infinity Property & Casualty Group (Infinity P/C) (Birmingham, AL) and its operating insurance subsidiaries.
    Concurrently, A.M. Best has assigned issuer credit ratings (ICRs) of "a" to Infinity P/C and its operating insurance subsidiaries. A.M. Best has also assigned an ICR of "bbb" to IPCC, the publicly-traded holding company. All ratings have a stable outlook.
    The affirmation of the financial strength rating reflects Infinity P/C's excellent capitalization, strong non-standard automobile market presence and favorable overall operating performance. Infinity P/C ranks among the leading non-standard automobile writers in the United States. Business is heavily focused in California and Florida, which generates approximately 65% of direct business written.

    The following debt rating has been affirmed:

    Infinity Property & Casualty Corporation--

    -- "bbb" on $200 million 5.50% senior unsecured notes, due 2014

    The financial strength rating of A (Excellent) has been affirmed and issuer credit ratings of "a" have been assigned to Infinity Property & Casualty Group and its following subsidiaries:

--	American Deposit Insurance Company
--	American Premier Insurance Company
--	Atlanta Casualty Company
--	Atlanta Reserve Insurance Company
--	Atlanta Specialty Insurance Company
--	Coventry Insurance Company
--	Infinity Insurance Company
--	Infinity National Insurance Company
--	Infinity Select Insurance Company
--	Leader Insurance Company
--	Leader Preferred Insurance Company
--	Leader Specialty Insurance Company
--	Regal Insurance Company
--	TICO Insurance Company
--	Windsor Insurance Company
--	Great Texas County Mutual Insurance Company

    An issuer credit rating of "bbb" has been assigned to Infinity Property & Casualty Corporation.
    For Best's Debt Ratings, all other Best's Ratings, an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings.
    For current Best's Ratings, independent data and analysis on more than 3,000 individual property/casualty companies, groups and industry composites, please visit http://www.ambest.com/pc.
    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.

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CONTACT: A.M. Best Co. Public Relations: Jim Peavy, 908-439-2200, ext. 5644 james.peavy@ambest.com or Rachelle Striegel, 908-439-2200, ext. 5378 rachelle.striegel@ambest.com or Analysts: Michael T. Venezia, 908-439-2200, ext. 5034 michael.venezia@ambest.com or Stefan Holzberger, 908-439-2200, ext. 5699 stefan.holzberger@ambest.com

KEYWORD: NEW JERSEY INDUSTRY KEYWORD: INSURANCE BANKING SOURCE: A.M. Best Co.

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