Credit rating agency A.M. Best Co. has affirmed the A/excellent financial strength rating of Beverly personal and commercial lines insurer Electric Insurance Co. A.M. Best said it affirmed the A rating based on Electric Insurance’s "solid capitalization, sustained operating profitability and low expense ratio."

The credit rating agency also noted the company’s commitment to customer service, e-commerce initiatives and solid investment income generation.

"We are pleased that A.M. Best 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. "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."