Symons International Group, Inc. Q3 1998 Results to be Below Forecast

8 October 1998

Symons International Group, Inc. Third Quarter 1998 Results to be Below Analysts' Forecasts

    INDIANAPOLIS--Oct. 7, 1998--Symons International Group, Inc. , a leading provider of crop and non-standard automobile insurance, today announces that its results for the third quarter of 1998 will be below analysts' estimates.
    Today, SIGC announces that its financial results for the third quarter of 1998 are expected to be below consensus analysts' forecasts for the Company and that the Company expects to record a loss for the quarter. These operating results are due primarily to catastrophic weather events affecting the Company's crop operations. These losses are mainly due to wind and hail losses incurred due to Hurricanes Bonnie and Georges and other weather related events. The Company will, therefore, record the results for its crop company at break-even for the nine months ended September 30, 1998. The non-standard auto insurance companies continue to be profitable. The Company expects to release more detailed estimates of its third quarter results on Monday, October 12, 1998, and the Company further expects to release a full report on its third quarter 1998 earnings during the first week of November.

    Conference Call: There will be a conference call to discuss the Company's results of operations for the third quarter at 4:00 p.m. Eastern Daylight Time on Monday, October 12, 1998; dial 1-800-275-3210 and ask for the "SIG Conference Call." A digital replay of this call will be available immediately after the call and anyone who misses the call can call 1-800-951-9642 and listen to the replay. The replay will be available until midnight, October 16, 1998.
    Symons International Group, Inc. is the 10th largest nonstandard automobile insurer in the USA and its IGF crop subsidiary is the 4th largest insurer of crops. IGF Insurance Company writes business in 39 states plus Canada. Symons' subsidiary Pafco General Insurance Company and Superior Insurance Company write nonstandard auto insurance in 22 states.

    Anyone wishing further information may contact:

    Alan G. Symons
    Chief Executive Officer
    Indianapolis (317) 259-6302
    Websites: SIG www.sigins.com
    IGF www.igfinsurance.com