Erie Insurance Named in 2010 Ward’s 50 Top Performing Insurance Companies

ERIE, Pa.  (Profitable.com)  Erie Insurance is once again being recognized on the list of Ward’s 50 Group of top performing insurance companies. This is the 20th consecutive year Ward Group has conducted the analysis, and 13th time ERIE has been on the national list.

“This recognition affirms our commitment to a strong balance sheet and an operating model that allows us to meet our customers’ needs,” said Terrence W. Cavanaugh, president and chief executive officer.  

The Ward’s 50 award analyzes the financial performance of 3,000 property-casualty companies and nearly 800 life-health insurance companies and recognizes the top performers for achieving outstanding results in the areas of safety, consistency and financial performance over a five-year period (2005-2009).

The Ward’s 50 analysis provides a detailed look at what makes a top performing insurance company.  It highlights these companies as excelling at balancing expense management, technology deployment and customer service.  A top performer must meet a five-year consecutive operating history and follow a detailed list of financial criteria and metrics.

According to Jeff Rieder, President of Ward Group, “In selecting the Ward’s 50, we identify companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results.”

Ward Group is a consulting firm specializing in the insurance industry and leading provider of industry benchmarking and best practices services. For more information on the Ward’s 50 Group of top performing companies, see Ward’s Web site at www.wardinc.com.

To learn more about Erie Insurance, visit www.erieinsurance.com.

According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 14th largest automobile insurer in the United States based on direct premiums written and the 18th 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 over 4.1 million policies in force and operates in 11 states and the District of Columbia. Erie Insurance Group ranks 484 on the FORTUNE 500.

Erie Insurance earned J.D. Power and Associates’ award for “Highest in Customer Satisfaction with the Auto Insurance Shopping Experience.”  This recognition is based on the results of the 2010 Insurance Shopping Study, which evaluates the experience of customers purchasing a new auto insurance policy.  Erie Insurance has also been recognized on the list of Ward’s 50 Group of top performing insurance companies.  The Ward’s 50 award analyzes the financial performance of 3,000 property and casualty companies and nearly 800 life and health insurance companies and recognizes the top performers for achieving outstanding financial results in safety and consistency over a five-year period (2005-2009).