ERIE, Pa., May 7 /PRNewswire/ -- FORTUNE magazine has ranked Erie Insurance No. 484 on the 2010 FORTUNE 500 list of the largest American companies based on total revenue.
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"Erie Insurance's financial strength puts us in the ranks with the largest companies in the United States," said Terrence W. Cavanaugh, president and chief executive officer. "This recognition honors our founder's legacy and further highlights the superior customer service and dedication of our employees and agents to our policyholders."
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 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 2009 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 800 life-health insurance companies and recognizes the top performers for achieving outstanding financial results in safety and consistency over a five-year period (2004-2008).
SOURCE Erie Insurance
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