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CITIZENS CORPORATION ANTICIPATES FOURTH QUARTER RATIOS

    WORCESTER, Mass., Oct. 27 /PRNewswire/ -- Citizens Corporation (Citizens) (NYSE: CZC), which through its wholly-owned subsidiary, Citizens Insurance Company of America, is one of the leading underwriters of personal and commercial property and casualty insurance in Michigan, yesterday estimated that its combined ratio for 1993 will be between 98 and 98.8 percent.
    In a meeting with analysts, John R. Wintermute, president of Citizens Insurance said he expects the year-end combined ratio for private passenger automobile to approximate the company's third quarter ratio, for commercial automobile to be "very favorable," and for homeowner's insurance to be "about 100."
    Wintermute also said he expects the company's commercial multiple peril combined ratio to be approximately 101 percent, and the combined ratio for its workers' compensation line to continue to improve.
    In addition, Wintermute said that as is common in the property and casualty insurance industry, actual results could and often do vary significantly from expectations due to a number of factors, including but not limited to severe weather and unexpected claims activity.
    -0-             10/27/93
    CONTACT:  Michael F. Buckley, director, public information of Allmerica Financial, 508-855-3099
    (CZC) CO:  CITIZENS CORPORATION; CITIZENS CORPORATION OF AMERICA IN:  INS ST:  MA


-- NE008 -- X413 10/27/93
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Publication:PR Newswire
Date:Oct 27, 1993
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