Birmingham, Ala.-based Torchmark Corp. said it was...

Birmingham, Ala.-based Torchmark Corp. said it was terminating its unsolicited $347-million offer for Kansas City Life Insurance Co., whose board opposed the deal . . . Moody’s Investors Service lowered the senior debt ratings of BAT Industries to A1 from AA3 based on the $5.2-billion acquisition of Farmers Group by the London-based company’s Batus subsidiary. Farmers senior notes remain under review, Moody’s said.