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Symons International Group Announces Appointment of New Auditors

31 January 2000

Symons International Group, Inc. Announces Appointment of New Auditors and Defers Dividend on Trust Preferred Securities

    INDIANAPOLIS, Jan. 31 -- Symons International Group, Inc.
, a leading provider of crop insurance and nonstandard
automobile insurance today announces executive management and Board actions to
further strengthen the organization as it implements plans to return to
profitability.
    The Company has engaged BDO Seidman, LLP, to become auditors for Symons
International Group, Inc. and its subsidiaries.  BDO Seidman, LLP serves
clients through more than 40 offices and 50 alliance firm locations across the
United States.  As a member firm of BDO International, BDO Seidman, LLP serves
clients abroad through more than 500 member firm offices in over 85 countries.
    The Board of Directors, at its recent meeting, elected to defer the
dividend due February 15, 2000 on its trust's preferred securities.  This
action was taken to improve cash flow and preserve capital for its subsidiary
insurance companies in support of its business objectives for the year 2000.
The Company has the ability, under its trust subsidiary's mandatorily
redeemable preferred stock, to defer payments for up to five years. "In
today's interest environment, accessing capital resources at 9-1/2% is not
unreasonable.  This is effectively what the Company has done by deferring the
payment under the trust preferred," said Douglas H. Symons, President.  The
Company pays interest to its wholly-owned trust, SIG Capital Trust I, which in
turn pays dividends to the holders of the preferred securities of the trust.
    The Company also announces the appointment of Larry S. Wechter to the
Board of Directors of Symons International Group, Inc.  Mr. Wechter is the
founder and CEO of Monument Advisors, a leading merchant bank in Indiana.  Mr.
Wechter formerly held the position of President of ADESA Corporation, a
publicly listed company.  Mr. Wechter will also serve as Audit Committee
Chairman for the Company.  In addition the Board has appointed Mr. Gene Yerant
to its Board of Directors.  Mr. Yerant recently joined the Company as
President and Chief Operating Officer of Superior Insurance Group, Inc., the
Company's nonstandard auto division, and Executive Vice President of Symons
International Group, Inc.
    In furthering its efforts to strengthen the management team, the Company
is pleased to announce the hiring of Mr. Gregg Albacete as Chief Information
Officer.  Prior to joining Symons International Group, Inc., Mr. Albacete
served as CIO of Leader Insurance Companies, working extensively with Mr.
Yerant to develop the automation systems that helped make Leader successful.
In 1999, it is estimated that Leader's expense ratio was below 21%, primarily
as a result of the efficiency of its client-server environment and automated
services provided to its agents.
    The Board of Directors has also confirmed certain management realignment.
Douglas H. Symons was appointed Chief Executive Officer of Symons
International Group, Inc. and Alan G. Symons was appointed Deputy Chairman.
Alan Symons will continue to serve as President and CEO of Goran Capital Inc.,
the parent company of Symons International Group, Inc.  In addition, the
Company appointed Dennis Daggett as Chief Executive Officer and Tom Gowdy as
President of its crop division, IGF Insurance Company.
    Symons International Group, Inc. is the 12th largest
nonstandard automobile insurer in the United States.  Nonstandard auto
insurance is sold through independent insurance agents and generally carries
higher premiums and low limits of liabilities.  Symons' subsidiary, Superior
Insurance Group, writes nonstandard auto insurance in 22 states.  IGF
Insurance Company is the fourth largest insurer of crops in the United States
and writes business in 46 states plus Canada.  Visit the Company's web site at
http://www.sigins.com .