Oxford Life Insurance Company and Subsidiaries Christian Fidelity Life Insurance Company and North American Insurance Company Announce Upgrades in Financial-Strength Ratings

PHOENIX, October 19, 2005 - Oxford Life Insurance Company (Oxford Life) (Arizona) has been upgraded by A. M. Best, the world's oldest and most authoritative insurance rating and information source, to B+ (Very Good) from B (Fair). The rating increase also applies to Oxford Life subsidiary companies Christian Fidelity Life Insurance Company (Texas) and North American Insurance Company (Wisconsin). The rating outlook for all three companies is stable.

"The three A. M. Best upgrades over the last nineteen months, combined with Oxford Life’s qualification for membership in the Insurance Marketplace Standards Association (IMSA), reflect our commitment and promises to agents and policyholders of continued financial strength and integrity," stated Mark A. Haydukovich, president of Oxford Life. "Our business plans reflect our further commitment to maintain the financial strength and health of our company while efficiently serving the needs of the senior market. We have seen a tremendous increase in sales of our final-expense whole life  insurance and our Medicare-supplement lines continues to return stable earnings. I expect that this rating upgrade will further enhance expansion and product sales," Haydukovich said.

Founded in 1965, Oxford Life Insurance Company specializes in providing life insurance, fixed and equity-indexed annuities, and critical-illness insurance sold through independent marketing organizations and general agents.  Christian Fidelity Life Insurance Company, a subsidiary of Oxford Life, is a high-quality Medicare-supplement and final-expense life insurance company.  Also a subsidiary of Oxford Life, North American Insurance Company markets and administers credit life and disability insurance.  A member of the Insurance Marketplace Standards Association (IMSA), the national organization dedicated to promoting high ethical standards in the life insurance marketplace, Oxford Life provides excellent customer service while exemplifying the highest standards of ethics and professional integrity.

Contact:

Jennifer Flachman
AMERCO
Director, Investor Relations
602-263-6568
[email protected]