I am pleased to report that A.M. Best Company has affirmed the A+ (Superior) rating for the property/casualty affiliates of Erie Insurance Group and the A (Excellent) rating for Erie Family Life. Rating outlooks remain stable for all our companies. The affirmed rating keeps Erie Insurance Group in the highest category (Superior) for financial strength. Only 9.1 percent of approximately 2,000 property/casualty insurers have earned this high rating.
In issuing the rating A.M Best noted that ERIE’s “market presence is reflective of its reputation for excellent service, strong independent agency relationships and extensive local market knowledge.” A.M. Best cited ERIE’s strong risk-adjusted capitalization, improved operating performance and favorable business profile in reaffirming its rating. A.M. Best noted that the rating also reflects numerous strategic initiatives ERIE has undertaken to improve operating performance and the Company’s continued focus on underwriting discipline and implementation of pricing variables through ERIE’s pricing segmentation model. A.M. Best also noted that ERIE’s favorable operating results are reflected in the Company’s strong earnings and robust surplus growth.
Certainly this accomplishment is largely attributable to your continued commitment to making ERIE simply the best insurer in all of the markets we serve. Our sound financial condition, national reputation for customer service and clear vision for quality growth has helped us earn this positive rating. Your engagement in our growth strategies and commitment to the needs of our policyholders will help ERIE continue to distinguish itself in the marketplace.
Congratulations on yet another job well done. And thank you for all that you do.
You can read A.M. Best’s press release at their Web site.
