A.M. Best Places Ratings of Continental American Insurance Company Under Review With Positive Implications

OLDWICK, N.J.--(Business Wire)--
A.M. Best Co. has placed the financial strength rating (FSR) of A- (Excellent)
and issuer credit rating (ICR) of "a-" of Continental American Insurance Company
(Continental American)(Columbia, SC) under review with positive implications
following the announcement that Aflac Incorporated (Aflac) (Columbus, GA)
[NYSE:AFL] has signed a definitive agreement to purchase Continental American
and its parent holding company, Continental American Insurance Group.

These rating actions reflect Aflac`s proposed purchase of both companies for
$100 million in cash. The purchase will be funded with internal capital, and the
transaction is expected to close in fourth quarter 2009. With the acquisition,
Aflac will gain access to the group supplemental insurance market, which will
compliment its market leading position in the U.S. payroll deduction market.
Continental American will be the platform for Aflac`s group worksite products
going forward.

The FSRs, ICRs and debt ratings of Aflac and its subsidiaries are unchanged. The
outlook for Aflac`s ratings is stable.

For Best`s Credit Ratings, an overview of the rating process and rating
methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any
additional methodologies and factors that may have been considered, can be found
at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating
organization dedicated to serving the financial and health care service
industries, including insurance companies, banks, hospitals and health care
system providers. For more information, visit www.ambest.com.

A.M. Best Co.
Analysts
Tom Zitelli, 908-439-2200, ext. 5412
tom.zitelli@ambest.com
or
Carl Austin, 908-439-2200, ext. 5500
carl.austin@ambest.com
or
Public Relations
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com

Copyright Business Wire 2009