(Erie, Pa.) July 14, 2011 - For the 4th consecutive year, Erie Insurance has been named to the Ward's 50 list of top performing property and casualty companies for 2011. This is the 14th time ERIE has been on the national list, published annually by Ward Group since 1991.
The Ward's 50 is based on analysis of the financial performance of 3,000 property-casualty insurers 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).
"Being included in the Ward's list speaks directly to the consistency of our performance and results, and it affirms our financial stability that our Customers, Agents and Employees rely on," said Terrence W. Cavanaugh, ERIE president and chief executive officer.
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 a complete list of the 2011 Ward's 50 companies visit 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 13th largest automobile and homeowners insurer in the United States based on direct premiums written and the 19th 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 4.3 million policies in force and operates in 11 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 company.
Erie Insurance is proud to be named a J.D. Power and Associates' 2011 Customer Service Champion and is only one of 40 companies so named in the U.S. 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 (2006-2010).
Megan Euston, Erie Insurance, 1-800-458-0811 ext. 2285 or