Erie Indemnity

Erie Indemnity Company (NASDAQ: ERIE) operates as the attorney-in-fact and management company for Erie Insurance Exchange, a reciprocal insurance exchange that stands as the 11th largest homeowners insurer, 12th largest automobile insurer, and 10th largest commercial lines insurer in the United States based on direct premiums written. Founded in 1925 and celebrating its 100th anniversary in 2025, Erie Insurance has grown from humble beginnings with $31,000 in initial capital to a powerhouse managing over $11.9 billion in premiums and more than 7 million policies in force across 12 states and the District of Columbia.

Erie Indemnity Company provides comprehensive management services to the Erie Insurance Exchange, including sales, underwriting, policy issuance and renewal, claims handling, and investment management. The company operates under a unique business model where it retains a management fee calculated as a percentage of the Exchange's direct and affiliated assumed premiums written, set at 25% for 2024 and 2025. This relationship has proven highly successful, with Erie Indemnity reporting net income of $600.3 million ($11.48 per diluted share) on revenue of $3.8 billion for 2024, representing a remarkable 34.6% year-over-year increase in net income.

The company serves customers across Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Wisconsin, and the District of Columbia, operating through a network of more than 14,000 independent insurance agents. Erie Insurance's product portfolio includes auto, home, business, and life insurance, along with specialized coverage for recreational vehicles, boats, and commercial lines. The company is rated A+ (Superior) by A.M. Best, reflecting its strong financial position and claims-paying ability.

With over 7,000 employees headquartered in Erie, Pennsylvania, Erie Insurance has built a reputation for exceptional customer service grounded in the Golden Rule principle established by founders H.O. Hirt and O.G. Crawford in 1925. Under the leadership of President and CEO Timothy G. NeCastro since 2016, the company has achieved Great Place to Work certification and maintains an impressive 90.4% policyholder retention rate. As Erie Insurance enters its second century, the company has demonstrated its commitment to community service by establishing a $100 million charitable foundation and continues to innovate with products like Business Auto 2.0 while maintaining the core values of service excellence that have defined the organization for 100 years.