SOURCE: Electric Insurance Company

Electric Insurance Company

June 03, 2009 08:51 ET

A.M. Best Affirms Electric Insurance Company's "A/Excellent" Financial Strength Rating

Rating Reflects the Company's Strong Capitalization and Low Expense Ratio

BEVERLY, MA--(Marketwire - June 3, 2009) - Electric Insurance Company, a national, leading provider of personal and commercial lines insurance products, announced today that A.M. Best Company, a full-service credit rating agency, has affirmed the A/Excellent financial strength rating of the Company. A.M. Best affirmed the A rating based on Electric Insurance Company's solid capitalization, sustained operating profitability, and low expense ratio. Also noted was the Company's commitment to customer service, e-commerce initiatives, and solid investment income generation.

"We are pleased that A.M. Best's has affirmed our rating of A/Excellent while acknowledging our strong capital and surplus position, prudent investment management approach, and low expense ratio," said Marc Meiches, president and CEO of Electric Insurance Company. "Importantly, the rating affirmation is validation for our current and prospective customers, agents, and reinsurance companies that we are well positioned in the market to provide excellent value to customers through competitively priced products, top tier customer service, and strong claims-paying ability."

A.M. Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations. It is based on a comprehensive quantitative and qualitative evaluation of a company's balance sheet strength, operating performance and business profile.

About Electric Insurance Company

Electric Insurance Company (www.electricinsurance.com) is a national, leading provider of personal and commercial lines insurance products. Established in 1966 to specifically serve GE employees, Electric Insurance now extends its superior personal lines products and outstanding service to discerning consumers inside and outside of the GE community. Electric Insurance Company -- with credit ratings of "A" from A.M. Best and Standard & Poor's -- offers its auto, homeowners, condo, renters, and umbrella insurance through the web, select independent agents, or by calling 800.227.2757.

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