A.M. Best Affirms Ratings of Primerica Life Insurance Company and Its Subsidiaries

TMCnet.com, May 15, 2008

A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa” of Primerica Life Insurance Company and its subsidiaries, National Benefit Life Insurance Company and Primerica Life Insurance Company of Canada (collectively known as Primerica Life). The outlook for all ratings is stable. These companies are indirect insurance subsidiaries of Citigroup, Inc. (Citigroup) (Delaware) [NYSE: C], one of the world's largest financial services companies with consolidated assets of approximately $2.2 trillion as of December 31, 2007.

The ratings of Primerica Life reflect its continued strong profitability, leading position in the U.S. term life insurance marketplace, strong risk-adjusted capitalization and favorable liquidity profile. Primerica Life is one of the largest writers of term life insurance in the United States, and its strong market position is attributable to its dedicated distribution affiliate, Primerica Financial Services, Inc. (PFS). This integrated distribution and operating platform includes nearly 100,000 life agents and is the primary driver of the insurance unit's excellent operating performance.