(Erie, Pa.) May 10, 2011 - FORTUNE magazine has ranked Erie Insurance No. 461 on the 2011 Fortune 500 list of largest American companies based on total revenue, climbing 23 places since last year.
"Providing financial protection and superior service to our Customers has been the hallmark of Erie Insurance for 86 years," said Terry Cavanaugh, president and chief executive officer. "Our consistent financial strength and solid balance sheet is a reflection of the dedication our Agents and Employees put into every interaction, every initiative, every day."
Erie Indemnity Company provides management services to the member companies of Erie Insurance Group, which includes the Erie Insurance Exchange, Flagship City Insurance Company, Erie Insurance Company, Erie Insurance Property and Casualty Company, Erie Insurance Company of New York and Erie Family Life Insurance Company.
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 ranks 461 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 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 (2005-2009).
CONTACT: Megan Euston, Erie Insurance, 1-800-458-0811 ext. 2285 or