UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[X] Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
1. Name and Address of Reporting Person(s)
DOUGLAS L. ANDERSEN
701 5th Ave
Des Moines, IA 50391-2007
2. Issuer Name and Ticker or Trading Symbol
ALLIED Group, Inc. (GRP)
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
4. Statement for Month/Year
11/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
CEO & President
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 11/12/98 U 889.0000 D $48.2500 0.0000 D Direct
<CAPTION>
Table II (PART 1) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
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1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right $10.7778 11/12/98 D V 3,375.0000 (1) 10/01/98 03/31/04
to buy)
Incentive Stock Option (right $12.2778 11/12/98 D V 5,063.0000 (2) 10/01/98 03/31/05
to buy)
Incentive Stock Option (right $17.8889 11/12/98 D V 6,750.0000 (3) 10/01/98 03/22/06
to buy)
Non-Qualified Stock Option $12.2220 11/12/98 D V 22,500.0000 (4) 03/31/98 03/31/05
Non-Qualified Stock Option $10.7778 11/12/98 D V 3,375.0000 (1) 10/01/98 03/31/04
(right to buy)
Non-Qualified Stock Option $12.2778 11/12/98 D V 5,063.0000 (2) 10/01/98 03/31/05
(right to buy)
Non-Qualified Stock Option $12.9445 11/12/98 D V 45,002.0000 (5) 10/14/96 10/14/03
(right to buy)
Non-Qualified Stock Option $17.8889 11/12/98 D V 6,750.0000 (3) 10/01/98 03/22/06
(right to buy)
Non-Qualified Stock Option $22.9167 11/12/98 D V 22,500.0000 (6) 10/01/98 03/21/07
(right to buy)
Non-Qualified Stock Option $32.5313 11/12/98 D V 25,000.0000 10/01/98 03/10/08
(right to buy)
Stock Appreciation Right $10.7778 11/12/98 D V 1,125.0000 03/31/96 03/31/04
Stock Appreciation Right $12.2778 11/12/98 D V 1,688.0000 03/31/97 03/31/05
Stock Appreciation Right $17.8889 11/12/98 D V 2,250.0000 03/22/98 03/22/06
<CAPTION>
Table II (PART 2) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
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1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right 11/12/98 Common Stock 3,375.0000 $48.2500 0.0000 D Direct
to buy)
Incentive Stock Option (right 11/12/98 Common Stock 5,063.0000 $48.2500 0.0000 D Direct
to buy)
Incentive Stock Option (right 11/12/98 Common Stock 6,750.0000 $48.2500 0.0000 D Direct
to buy)
Non-Qualified Stock Option 11/12/98 Common Stock 22,500.0000 $48.2500 0.0000 D Direct
Non-Qualified Stock Option 11/12/98 Common Stock 3,375.0000 $48.2500 0.0000 D Direct
(right to buy)
Non-Qualified Stock Option 11/12/98 Common Stock 5,063.0000 $48.2500 0.0000 D Direct
(right to buy)
Non-Qualified Stock Option 11/12/98 Common Stock 45,002.0000 $48.2500 0.0000 D Direct
(right to buy)
Non-Qualified Stock Option 11/12/98 Common Stock 6,750.0000 $48.2500 0.0000 D Direct
(right to buy)
Non-Qualified Stock Option 11/12/98 Common Stock 22,500.0000 $48.2500 0.0000 D Direct
(right to buy)
Non-Qualified Stock Option 11/12/98 Common Stock 25,000.0000 $48.2500 0.0000 D Direct
(right to buy)
Stock Appreciation Right 11/12/98 Common Stock 1,125.0000 $48.2500 0.0000 D Direct
Stock Appreciation Right 11/12/98 Common Stock 1,688.0000 $48.2500 0.0000 D Direct
Stock Appreciation Right 11/12/98 Common Stock 2,250.0000 $48.2500 0.0000 D Direct
<FN>
Explanation of Responses:
(1)
This option was previously reported covering 1,500 shares at an exercise price of $24.25 per share, but was adjusted to reflect a
stock split on November 29, 1996 and another stock split on November 28, 1997.
(2)
This option was previously reported covering 2,250 shares at an exercise price of $27.625 per share, but was adjusted to reflect a
stock split on November 29, 1996, and another stock split on November 28, 1997.
(3)
This option was previously reported covering 3,000 shares at an exercise price of $40.25 per share, but was adjusted to reflect a
stock split on November 29, 1996, and another stock split on November 28, 1997.
(4)
This option was previously reported covering 10,000 shares at an exercise price of $27.50 per share, but was adjusted to reflect a
stock split on November 29, 1996, and another stock split on November 28, 1997.
(5)
This option was previously reported covering 20,000 shares at an exercise price of $29.125 per share, but was adjusted to reflect a
stock split on November 29, 1996, and another stock split on November 28, 1997.
(6)
This option was previously reported covering 15,000 shares at an exercise price of $34.375 per share, but was adjusted to reflect a
stock split on November 28, 1997.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ DOUGLAS L. ANDERSEN
DATE
