ERIE, Pa., July 17, 2013 /PRNewswire/ -- For six years in a row, Ward Group has named Erie Insurance to its Ward's 50 list of top performing property and casualty companies. The Ward Group analyzes the financial performance of 3,000 property-casualty insurers before naming the top performers in safety, consistency and financial performance over a five-year period.
"Our customers believe in and have benefitted from ERIE's value proposition – superior coverage and service at a competitive price. It's why more than 90 percent of our customers stay with us year after year," said Terry Cavanaugh, president and chief executive officer of Erie Insurance. "That strong customer retention is reflected in the strength of our balance sheet and allows us to deliver on our promise of security and protection. The Ward's 50 list affirms that we have the financial stability our customers, agents, shareholders, and employees expect and depend on."
Ward Group is a consulting firm specializing in the insurance industry and leading provider of industry benchmarking and best practices services. This is the 16th time ERIE has been on the list, published annually since 1991.
According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 15th largest homeowners insurer and 12th largest automobile insurer in the United States based on direct premiums written and the 20th largest property/casualty insurer in the United States based on total lines net premium written. The Group, rated A+ (Superior) by A.M. Best Company, has more than 4.6 million policies in force and operates in 11 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 and Barron's 500 company. Erie Insurance is proud to have received the J.D. Power and Associates' award for "Highest in Customer Satisfaction with the Auto Insurance Purchase Experience" and to be a J.D. Power and Associates' 2012 Customer Service Champion. ERIE is one of only 50 U.S. companies so named. Erie Insurance is also recognized on the list of Ward's 50 Group of top performing insurance companies, which analyzes the financial performance of 3,000 property and casualty companies and recognizes the top performers for achieving outstanding results in safety, consistency and financial performance over a five-year period (2007-2011).
News releases and more information about Erie Insurance Group are available at www.erieinsurance.com.
SOURCE Erie Insurance