A.M. Best Co. affirmed the “A+” (Superior) financial strength rating for the property-casualty affiliates of Erie Insurance Group.

Erie Family Life Insurance Co. also had its Best’s rating of “A” (Excellent) affirmed. The rating outlooks are “stable” for all companies.

A.M. Best cited many reasons for the Erie, Pa.-based insurer’s ratings affirmation, including the company’s superior risk-adjusted capitalization, strong long-term operating performance and well established regional market presence, according to an A.M. Best statement.

“The group benefits from the strength of its balance sheet, its high service reputation and agency partnering approach, which helps to strengthen agency loyalty,” the A.M. Best statement said.

The ratings service also noted that despite challenging economic conditions, the group’s underwriting results remained profitable due to the company’s pricing sophistication, market segmentation and technology enhancements. A.M. Best stated that ERIE “maintains prudent risk management capabilities and continues to enhance its effective enterprise risk management process, which identifies, measures and monitors existing and emerging risks.”

Erie Indemnity Co. provides management services to the member companies of Erie Insurance Group, which includes Erie Insurance Exchange, Flagship City Insurance Co., Erie Insurance Co., Erie Insurance Property and Casualty Co., Erie Insurance Co. of New York and Erie Family Life Insurance Co.

The Erie group of companies has more than 4.1 million policies in force and operates in 11 states and Washington, D.C.