Bond Ratings and Designations

Moody's Investor Service- Aa2, Stable

National Association of Insurance Commissioners - "1" Designation

Standard & Poor's - AA, Stable

Bond Rating History - Standard and Poor's

Date	Action	Rating	Outlook
5/24/2012	Outlook Change	AA	Stable
3/10/2010	Outlook Change	AA	Negative
5/14/2007	Rating Upgrade	AA	Stable
5/31/2005	Rating Downgrade	AA-	Stable
5/27/2004	Rating Downgrade	AA	Stable
11/13/2002	Outlook Change	AA+	Negative
3/29/1994	Outlook Change	AA+	Stable
2/10/1992	Outlook Change	AA+	Negative
6/06/1991	Rating Downgrade	AA+	Stable
10/22/1978	Initial Rating	AAA	N/A

Bond Rating History - Moody's Investor Service

Date	Action	Rating	Outlook
6/4/2014	Outlook Change	Aa2	Stable
5/18/2012	Outlook Change	Aa2	Negative
4/19/2010	Recalibration	Aa2	Stable
5/24/2005	Rating Downgrade	Aa3	Stable
6/04/1998	Rating Upgrade	Aa2	N/A
5/12/1997	Rating Downgrade	Aa3	N/A
8/24/1993	Rating Upgrade	Aa	N/A
2/26/1982	Rating Downgrade	Aa1	N/A
4/19/1974	Rating Downgrade	Aa	N/A
1970	N/A	Aaa	N/A