UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] 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)
JAMES J. HAGENBUCHER
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
03/98
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)
Regional Vice President
of Certain Subsidiaries
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
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<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 03/01/98 F V 54.0000 D $31.4375 D Direct
Common Stock 03/01/98 F V 31.0000 D $31.4375 D Direct
Common Stock 03/02/98 S 1,250.0000 D $32.0000 11,486.0000 D Direct
Common Stock 7,643.6771 I by ESOP
<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
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<S> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified Stock Option $32.5313 03/10/98 A V 10,000.0000 (1) 03/10/08
(right to buy)
<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
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<S> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified Stock Option 03/10/98 Common Stock 10,000.0000 10,000.0000 D Direct
(right to buy)
<FN>
Explanation of Responses:
(1)
The nonqualified option becomes exercisable in 33 1/3% increments on 3/10/01, 3/10/02, and 3/10/03, respectively.
- -
On November 28, 1997, the common stock of ALLIED Group, Inc. split 3-for-2, resulting in the reporting person's acquisition of 4,273
shares of common stock owned directly and 1,993.1419 shares owned indirectly by ESOP.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ JAMES J. HAGENBUCHER
DATE
