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)
STEVEN P. LARSEN
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
08/98
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)
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
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 08/13/98 M (1) 562.0000 A $17.8889 D Direct
Common Stock 08/13/98 D (1) 562.0000 D $47.1250 D Direct
Common Stock 08/13/98 M (1) 282.0000 A $12.2778 D Direct
Common Stock 08/13/98 D (1) 282.0000 D $47.1250 D Direct
Common Stock 08/13/98 M (1) 281.0000 A $10.7778 D Direct
Common Stock 08/13/98 D (1) 281.0000 D $47.1250 D Direct
Common Stock 08/13/98 M 1,125.0000 A $17.8889 D Direct
Common Stock 08/13/98 M 1,125.0000 A $17.8889 D Direct
Common Stock 08/13/98 M 844.0000 A $12.2778 D Direct
Common Stock 08/13/98 M 844.0000 A $12.2778 D Direct
Common Stock 08/13/98 M 562.0000 A $10.7778 D Direct
Common Stock 08/13/98 M 562.0000 A $10.7778 D Direct
Common Stock 08/13/98 S 2,531.0000 D $47.0625 D Direct
Common Stock 08/25/98 M 15,000.0000 A $12.9445 D Direct
Common Stock 08/25/98 M 7,500.0000 A $12.2222 D Direct
Common Stock 08/25/98 S 16,000.0000 D $47.3125 11,770.8441 D Direct
Common Stock 5,354.3004 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
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option (right $10.7778 08/13/98 M 562.0000 (2) 03/31/98 03/31/04
to buy)
Incentive Stock Option (right $12.2778 08/13/98 M 844.0000 (3) 03/31/98 03/31/05
to buy)
Incentive Stock Option (right $17.8889 08/13/98 M 1,125.0000 (4) 03/22/98 03/22/06
to buy)
Non-Qualified Stock Option $12.2222 08/25/98 M 7,500.0000 (5) 03/31/98 03/31/05
Non-Qualified Stock Option $10.7778 08/13/98 M 562.0000 (2) 03/31/99 03/31/04
(right to buy)
Non-Qualified Stock Option $12.2778 08/13/98 M 844.0000 (3) 03/31/98 03/31/05
(right to buy)
Non-Qualified Stock Option $12.9445 08/25/98 M 15,000.0000 (6) 10/14/97 10/14/03
(right to buy)
Non-Qualified Stock Option $17.8889 08/13/98 M 1,125.0000 (4) 03/22/98 03/22/06
(right to buy)
Stock Appreciation Right $10.7778 08/13/98 M (1) 281.0000 03/31/98 03/31/04
Stock Appreciation Right $12.2778 08/13/98 M (1) 282.0000 03/31/98 03/31/05
Stock Appreciation Right $17.8889 08/13/98 M (1) 562.0000 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)
- ------------------------------------------------------------------------------------------------------------------------------------
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 08/13/98 Common Stock 562.0000 563.0000 D Direct
to buy)
Incentive Stock Option (right 08/13/98 Common Stock 844.0000 1,688.0000 D Direct
to buy)
Incentive Stock Option (right 08/13/98 Common Stock 1,125.0000 3,375.0000 D Direct
to buy)
Non-Qualified Stock Option 08/25/98 Common Stock 7,500.0000 15,000.0000 D Direct
Non-Qualified Stock Option 08/13/98 Common Stock 562.0000 563.0000 D Direct
(right to buy)
Non-Qualified Stock Option 08/13/98 Common Stock 844.0000 1,688.0000 D Direct
(right to buy)
Non-Qualified Stock Option 08/25/98 Common Stock 15,000.0000 7,500.0000 D Direct
(right to buy)
Non-Qualified Stock Option 08/13/98 Common Stock 1,125.0000 3,375.0000 D Direct
(right to buy)
Stock Appreciation Right 08/13/98 Common Stock 281.0000 282.0000 D Direct
Stock Appreciation Right 08/13/98 Common Stock 282.0000 563.0000 D Direct
Stock Appreciation Right 08/13/98 Common Stock 562.0000 1,688.0000 D Direct
<FN>
Explanation of Responses:
(1)
Exercise SAR for cash.
(2)
This option was previously reported covering 250 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.
(3)
This option was previously reported covering 375 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.
(4)
This option was previously reported covering 500 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.
(5)
This option was previously reported covering 3,333 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.
(6)
This option was previously reported covering 6,667 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.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ STEVEN P. LARSEN
DATE
