A.M. Best Affirms, Removes From Under Review and Withdraws Ratings of PennCorp Life Insurance Company.

OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of B++ (Good) and the issuer credit rating of "bbb" of PennCorp Life Insurance Company (PennCorp) (Mississauga, Ontario). The ratings have been removed from under review and assigned a stable outlook.

The rating affirmations and their removal from under review reflect A.M. Best's review of PennCorp's recent operating results and balance sheet strength. These actions also reflect the conclusion of a previously announced sale of PennCorp by Universal American Financial Corp. (Universal American) (Rye Brook, NY) (NASDAQ: UHCO) to a venture 70% owned by La Capitale Civil Service Insurer Inc., a subsidiary of La Capitale Financial Group Inc., and 30% owned by GMF Assurances, a French mutual insurance company.

Subsequently, A.M. Best has withdrawn the ratings and assigned an NR-4 (Company Request) to PennCorp. This action is in response to management's request that PennCorp be removed from A.M. Best's interactive rating process.

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

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.