ERIE, Pa., Sept. 24 /PRNewswire-FirstCall/ — Erie Insurance has announced that the company plans to write business in Minnesota beginning in the fourth quarter of 2009.This is the 12th state that will be served by the company, in addition to the District of Columbia.
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“We are looking forward to entering Minnesota because of the substantial growth opportunities the state provides for our company,” says John J. Brinling, Jr., president and CEO of Erie Insurance. “A history of positive underwriting results by insurers in Minnesota makes this an attractive market for us. The state also has a highly professional insurance department with a reputation for holding all companies to the same standards of conduct. Minnesota’s proximity to our existing marketing territory will also help us transition smoothly to this new state.
“ERIE offers insurance exclusively through independent agents,” continued Brinling. “This will give Minnesota customers a chance to build a relationship with a local agent who is providing service right in their community.”
Erie Insurance currently writes in Indiana, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Illinois, Wisconsin and the District of Columbia. Minnesota will be the third state in ERIE’s Heartland Region along with Wisconsin and Illinois.
Erie Insurance is a multi-line insurance company, offering auto, home, commercial, life and annuities. According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 15th largest automobile insurer in the United States based on direct premiums written and the 22nd 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 almost 3.8 million policies in force and operates in 11 states and the District of Columbia. Erie Insurance Group ranked 463 on the FORTUNE 500 and Erie Indemnity Company is included in Forbes Magazine’s PLATINUM 400 list of the best-managed companies in America.
“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: Certain forward-looking statements contained herein involve risks and uncertainties. These statements include certain discussions relating to management fee revenue, cost of management operations, underwriting, premium and investment income volume, business strategies, profitability and business relationships and the Company’s other business activities during 2007 and beyond. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “could,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “contemplate,” “estimate,” “project,” “predict,” “potential” and similar expressions. These forward-looking statements reflect the Company’s current views about future events, are based on assumptions and are subject to known and unknown risks and uncertainties that may cause results to differ materially from those anticipated in those statements. Many of the factors that will determine future events or achievements are beyond our ability to control or predict. The Company assumes no obligation whatsoever to publicly update or revise any forward-looking statements.
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CONTACT: Mark Dombrowski, Corporate Communications of Erie Insurance,+1-800-458-0811, ext. 2285, +1-814-870-2285,[email protected]
Web site: http://www.erieinsurance.com/